Wait for a correction | 14 April 2020

Technical observation

EUR is still trading above the key level 1.0882 it recently above with a big green candle. Yesterday price declined to the level but did not reach it. However, this bearish movement is still expected today to the just broken line followed by a rejection at it for possible bullish price rally. My advice, wait for a correction to the supportive level 1.0882, and a bounce at it to buy EUR with your take profit at 1.1131 and stop loss at 1.0791. Should there be no rejection at the level 1.0882 but a clear breakout below it with a big red candle, a possible surge to the lower side can be expected after a correction.

Trade recommendation

Wait for a retracement to buy EUR.