Wait | 24 March 2020

Technical observation

For the past two days, EUR has been rising significantly towards a resistance zone it established around 1.0912-1.0897. Today, I expect more bullish movements towards the zone followed by a bounce within it for possible bearish momentum. My advice, wait for a correction to the above-mentioned zone and a rejection within it to sell EUR with your take profit at 1.0660 and stop loss at 1.0982. However, in case there’s no rejection of price within the zone 1.0912-1.0897 but a clear breakout above it with a big green candle, wait for a retracement to the just broken zone and a bounce to pick long position.

Trade recommendation

Wait for a correction to 1.0912-1.0897 to sell EUR.