Sell EUR within 1.1150-1.1131 | 01 June 2020

Technical observation

EUR is trading with an increasing bullish bias below a resistance zone 1.1150-1.1131, I expect a rejection of this bullish movement within the zone for bearish price movements. My advice, sell EUR within the above-mentioned zone with your take profit at 1.0982 and stop loss at 1.1223. In case of a clear breach above the zone 1.1150-1.1131 with a big green candle, wait for a retracement to the just broken zone and a bounce within it before you pick long positions with your take profit at 1.1453 and stop loss at 1.1055. However, as long as price is contained below 1.1150-1.1131, only short position can be expected.

Trade recommendation

Sell EUR within 1.1150-1.1131 with your take profit at 1.0982.