19 March 2020, EUR/USD
Technical observation
EUR has been declining steadily towards the key level 1.0784. Yesterday price declined to the line but did not break below it. Today, my expectation is either a drop to the support level mentioned above or a retracement to the resistance zone 1.1111-1.1096 followed by a rejection within it. In case of a correction to the zone 1.1111-1.1096, sell EUR within it after a bounce with your take profit at 1.0897 and stop loss at 1.1176 and should there be a no retracement to 1.1111-1.1096 but a clear penetration below 1.0784 with a big red candle, you can pick short positions after a pullback to the broken level.
Trade recommendation
Remain flat.
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