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Buy EUR within 1.1179-1.1166

Buy EUR within 1.1179-1.1166 | 13 March 2020

13 March 2020, EUR/USD

Technical observation

Yesterday’s market closed with an indecisive bearish candle, this indicates that there was times of imbalance between bullish and bearish market participants. A tail went below the supportive zone 1.1179-1.1166 however, price still closed above it. This is a possible bounce within the zone and bullish movements towards the resistance line 1.1453 is expected. You can buy this pair now within the zone with your take profit at 1.1453 and stop loss at 1.1093. In case you are hesitant to buy this pair now, remain flat. Short position may only be advisable below 1.1179-1.1166 in case of a breakout with a big red candle.

Trade recommendation

Buy EUR within 1.1179-1.1166 with your take profit at 1.1453.

Imelda Maseno
Analyst of «FreshForex» company
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