03 марта 2020, EUR/USD
Technical observation
EUR has been rising intensely for several days now towards a zone 1.1186-1.1175, this pair is not showing any clear signs of decreasing in value, however, in case there is a rejection of price within the zone, a possible plunge towards the supportive level 1.0986 can be anticipated. Should there be a clear penetration above 1.1186-1.1175 with a big green candle, bullish movements can be expected after a retracement to the just broken zone followed by a bounce within it. Right now, remain flat temporarily and wait for either a rejection within 1.1186-1.1175 or a breach above it to trade EUR.
Trade recommendation
Remain flat temporarily.
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