We're flat temporarily | 02 April 2021
02 April 2021, EUR/USD
Technical observation
This week, EUR has been declining steadily and is currently trading above the supportive zone 1.1642-1.1588 with an increasing bearish momentum. I expect a loss of this bearish movement within the zone mentioned above for a rally to the upper side. My advice, remain flat temporarily and wait for a correction to the zone 1.1642-1.1588 and a rejection within it to buy EUR with your take profit at 1.2252 and stop loss at 1.1409. Should there be a clear breakout below the zone 1.1642-1.1588 with a big red candle, wait for a correction to the just broken zone and a bounce within it before you pick short positions towards the level 1.0826.
Trade recommendation
Remain neutral temporarily.
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.
