Remain flat | 30 June 2020

Technical observation

EUR is trading with an increasing bearish momentum above a supportive 1.1216-1.1204; my expectation is rejection within the above-mentioned zone for bullish movement of price, or a clear breakout below the zone with a big red candle. In case of a bounce within the zone, pick long position within it with your take profit at 1.1349 and stop loss at 1.1137. Should there be a clear breakout below 1.1216-1.1204, wait for a correction to it and a rejection to confirm possible bearish movements of price before you pick short positions. Right now, remain neutral is ideal than entering any position.

Trade recommendation

Remain flat temporarily.