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Wait | 30 March 2020

30 March 2020, EUR/USD

Technical observation

EUR has been rising steadily for several days now and it recently penetrated above a zone 1.1111-1.1096 with a big green candle and is currently rallying above it. I expect a correction to the just broken zone followed by a clear bounce within it for possible bullish momentum towards the level 1.1453. My advice, wait for the correction to the zone 1.1111-1.1096 and a bounce within it to buy EUR with your take profit at 1.1453 and stop loss at 1.1028. On the daily chart above, as long as EUR is contained above the zone 1.1111-1.1096, only long positions look ideal. Short positions can only be advisable below 1.1111-1.1096.

Trade Recommendation

Wait for a correction to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
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