Remain flat | 19 Juli 2019

19 Juli 2019, EUR/USD

Remain flat

Technical observation

On the weekly chart above, price did not rally downwards as I had predicted but instead it went up and I expect it to close bullish. Next week I expect a continuation of this upwards movement to the zone 1.1465-1.1401 followed by a bounce within it for bearish rally towards the supportive level 1.0830. If you are flat now remain so and wait to sell EUR with your take profit at 1.0830 and stop loss at1.1755, in case price is not rejected within 1.1465-1.1401 but instead penetrates above it with a big green candle, wait for a correction to the just broken zone and a rejection within it before you buy EUR with your take profit at 1.2034.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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