18 мая 2020, EUR/USD
Technical observation
The pair on the weekly chart above has been declining steadily since its rejection within the resistance zone 1.1478-1.1415. Currently, EUR is rallying above the supportive level 1.0444 with an increasing bearish momentum and I expect this movement to continue to it followed by a possible penetration below the line. Should price break below 1.0444 with a big red candle, wait for a correction to it to confirm further bearish price rally before you continue short with this pair. If you sold this pair within the zone 1.1478-1.1415, remain short and pick your profits at the supportive level 1.0444.
Trade recommendation
Remain short with your take profit at 1.0444.
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