Remain short | 31 March 2020
31 March 2020, EUR/USD
Technical observation
On the daily chart above, EUR rose up to a resistance zone 1.1150-1.1131 but could not penetrate above I and price was contained below it before trading on an increasing bearish momentum. Within the above-mentioned zone is the ideal place to sell this pair after a rejection with your take profit at 1.0897 and stop loss at 1.1221. If you sold this pair within the zone 1.1150-1.1131, remain short and pick your profits at the key level 1.0897. Should there be a clear penetration above the zone 1.1150-1.1131 with a big green candle, wait for a correction to the just broken zone and a bounce within it to buy EUR.
Trade recommendation
Remain short with your take profit at 1.0897.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
