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Wait | 13 April 2020

13 April 2020, EUR/USD

Technical observation

EUR is still trading above the level 1.0897 it recently penetrated above and a correction to the just broken line followed by a bounce at it can be expected. Wait for a retracement to the line 1.0897 and a bounce at it to buy EUR with your take profit at 1.1113 and stop loss at 1.0814. In case this take profit is hit and there’s a clear breakout above it with a big green candle, continue long with this pair after a pullback to the just broken zone followed by a bounce within it confirming further bullish movements of price. On the daily chart above, only bullish movements look ideal and may be advisable.

Trade recommendation

Wait for a retracement to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
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