Remain short | 16 April 2020

Technical observation

Since its rejection within the zone 1.0985-1.0970, EUR has been declining steadily towards a supportive level 1.0753, and as long as price is contained below the zone, only bearish movements of this pair can be expected. If you sold this pair within the above- mentioned zone, remain short with your take profit at 1.0753. Should there be a clear penetration above 1.0985-1.0970 with a big green candle, we can expect a correction to the just broken zone and retracement t it to confirm possible bullish price movements towards the key level 1.1203 or even higher to the upper resistance level 1.1464,

Trade recommendation

Remain short with your take profit at 1.0753.