Wait | 05 June 2020

05 June 2020, EUR/USD

Wait

Technical observation

EUR continues to rally steadily with an increasing bullish momentum and this is a clear indication of a bullish dominance of price. I however expect a retracement to the zone 1.1150-1.1131 price penetrated above followed by a bounce within it to pick long positions. My advice, buy a bounce within 1.1150-1.1131 with your take profit at 1.1453 and stop loss at 1.1055. In case there is clear breakout above the line 1.1453 with a big green candle, I expect further bullish price movements of EUR. On the daily chart above, as long as price is contained above 1.1150-1.1131 we can only expect bullish movements of EUR.

Trade recommendation

Wait for a correction to 1.1150-1.1131 to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .