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Remain long

Remain long | 12 June 2020

12 June 2020, EUR/USD

Remain long

Technical observation

EUR bounced at the supportive level 1.1251 and is currently trading with an increasing bullish momentum towards the key level 1.1484. If you bought this pair at the line 1.1251 after a bounce, remain long with your take profit at 1.1484 and stop loss at 1.1183. Should there be a clear breakout above the line 1.1484, continue long with this pair after a pullback to the just broken line and a rejection at it. In case price penetrates below the line 1.1251 and is contained below it, I anticipate a correction to the just broken line followed by bearish movements of EUR towards the supportive zone around 1.1041-1.1030.

Trade recommendation

Remain long with your take profit at 1.1484.

Imelda Maseno
Analyst of «FreshForex» company
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