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Remain flat

Remain flat | 17 Maret 2020

17 Maret 2020, EUR/USD

Remain flat

Technical observation

For several days now, the pair on the daily chart above has been declining steadily towards a supportive zone 1.1111-1.1096. I still, expect more steady bearish movement to the zone followed by a possible penetration below it with a big red candle. In case there is a clear break below the zone, wait for a correction to it and a bounce to sell EUR with your take profit at 1.0897 and stop loss at 1.1173. Should there be no break below 1.1111-1.1096 but a bounce within it, wait for a correction to it to confirm a possible rise in price before you pick long positions with your take profit at the resistance line 1.1300.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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