still short towards 1.0897 | 01 April 2020

01 April 2020, EUR/USD

Technical observation

Price continue to rally downwards on the daily chart above with yesterday’s candle tail pulling downwards. Today further bearish movements of this pair is expected towards the supportive level 1.0897 followed by a clear breakout below it for further bearish price movements. If you sold this pair within the resistance zone 1.1150-1.1131 after a rejection, remain short with your take profit at 1.0897 and stop loss at 1.1236. Bullish movements of this pair can be anticipated above the zone 1.1150-1.1131 should there be a clear penetration above it with a big green candle and a correction to it.

Trade recommendation

Remain short with your take profit at 1.0897.

Imelda Maseno
Analyst of «FreshForex» company
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