29 April 2020, EUR/USD
Technical observation
On the chart above price is trading above a supportive level 1.0783 with an increasing bullish momentum. I expect a rise to the resistance line 1.0985 followed by a bounce at it for possible bearish price movements. If you are currently flat, remain so and wait for a correction to the resistance line mentioned above and a rejection at it to sell EUR with your take profit at 1.0783 and stop loss at 1.1055. Should there be a clear breach below the level 1.0783, with a big red candle, further bearish price movements can be anticipated. As it so on the daily chart above, only short positions can be recommended
Trade recommendation
Remain flat.