Remain flat | 02 May 2019

02 May 2019, EUR/USD

Remain flat

Technical observation

On the weekly chart above, price has been trading on an increasing bullish momentum since the beginning of the week towards a resistance zone 1.1528-1.1457, my expectation is either a rejection of it within the zone for possible downwards movement of price or a clear penetration above 1.1528-1.1457 with a big green candle. Remain flat and wait for the correction to1.1528-1.1457 to sell EUR with your take profit at 1.0444 and stop loss at 1.1851, in case of a clear breach above 1.1528-1.1457, wait for a retracement to the just broken zone and a rejection within it before you buy EUR with your take profit at 1.2456.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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