Remain flat | 20 Mei 2019

20 Mei 2019, EUR/USD

Remain flat

Technical observation

EUR is trading on an increasing bearish momentum between a resistance zone 1.1521-1.1457 and a support 1.0838, I expect bearish price rally towards the support followed by a clear penetration below it and a correction to it for downwards movements of price.Wait for a clear breach below the line 1.0838 followed by a retracement to it to sell EUR with your take profit at 1.0243 and stop loss at 1.1063, however should there be no decline to 1.0838 but a correction to 1.1521-1.1457, wait for a rejection within it to confirm possible bearish price rally before you sell EUR with your take profit at 1.0838 and stop loss at 1.1750.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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