We're flat | 13 May 2020

Technical observation

EUR rose with a big green candle and I still expect more bullish price movements towards the resistance line 1.0985 followed by a rejection at it for bearish price rally. My advice, remain flat and wait for a correction to the line 1.0985 and a bounce at it to sell EUR with your take profit at 1.0776 and stop loss at 1.1058. Should there be a clear penetration above the line 2.0985 with a big green candle, I expect a correction to it and a rejection for possible bullish momentum towards the resistance zone 1.1205-1.1191. However, as long as EUR is contained below the line 1.0985, only short positions is ideal.

Trade recommendation

Remain flat.