Wait for a bounce at 1.1252 | 04 April 2019

04 April 2019, EUR/USD

Wait for a bounce at 1.1252

Technical observation

Yesterday EUR rose to the key level 1.1252 as predicted, it could not penetrate above the line and rallied down for a few hours before rising to it again. Currently this pair is trading below the above mentioned level and I expect a bounce at it for bearish momentum towards the line 1.1175 followed by a possible breach below it for a further decline in price. My advice, wait for a bounce at 1.1252 to sell EUR with your take profit at 1.1175 and stop loss at 1.1278, In case price is not rejected at 1.1252 and penetrates above it, wait for a correction to the just broken line and a bounce at it before you pick long positions towards 1.1321.

Trade recommendation

Wait for a bounce at 1.1252 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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