We're flat | 07 April 2020

Technical observation

On the daily chart above, price is pulling back to a key level 1.0897 it recently penetrated below with a big red candle. I expect a rejection of this upwards movement at the level for bearish rally. You can sell this pair at the level 1.0897 after a bounce with your take profit at 1.0660 and stop loss at 1.0965. In case price is not rejected at the level 1.0897 and instead penetrates above it with a big green candle, wait for a correction to the just broken level and a rejection at it to confirm possible bullish rally before you pick long positions. Right now, remain neutral and wait for a correction to trade EUR.

Trade recommendation

Remain flat.