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we are short

we are short | 19 Maret 2021

19 Maret 2021, EUR/USD

we are short

Technical observation

EUR declined up to the supportive zone it established at 1.1917-1.1913, it then penetrated below the zone with a big red candle. Price pulled back to the just broken zone and it was contained within it, right now it is trading with an increasing bearish bias within the same zone. I expect his downwards movement to continue to the supportive line 1.1835 followed by a bounce at it for another correction to the zone mentioned above. If you sold this pair within 1.1917-1.1913 after a bounce, remain short with your take profit at 1.1835 and stop loss at 1.1938.In case of a break below the line 1.1835, expect further bearish rally.

Trade recommendation

Remain short with your take profit at 1.1835.

Imelda Maseno
Analyst of «FreshForex» company
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