04 марта 2020, EUR/USD
Technical observation
EUR has been trading with an increasing bullish momentum for several days and is currently within a resistance zone 1.1186-1.1175. As long as price is contained below this zone, a possible decrease towards the key level 1.0986 can be expected after a bounce. Wait for a rejection of price within the zone 1.1186-1.1175 to sell EUR with your take profit at 1.0986 and stop loss at 1.1251. In case EUR is not contained below the zone but clearly penetrates above it with a big green candle, bullish price movements towards the resistance level 1.1453 can be anticipated after a correction to the just broken zone.
Trade recommendation
Sell EUR within 1.1186-1.1175 with your take profit at 1.0986 and stop loss at 1.1251.
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