We're bearish towards 1.0444 | 18 May 2020
18 May 2020, EUR/USD
Technical observation
The pair on the weekly chart above has been declining steadily since its rejection within the resistance zone 1.1478-1.1415. Currently, EUR is rallying above the supportive level 1.0444 with an increasing bearish momentum and I expect this movement to continue to it followed by a possible penetration below the line. Should price break below 1.0444 with a big red candle, wait for a correction to it to confirm further bearish price rally before you continue short with this pair. If you sold this pair within the zone 1.1478-1.1415, remain short and pick your profits at the supportive level 1.0444.
Trade recommendation
Remain short with your take profit at 1.0444.
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.
