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Remain long

Remain long | 24 June 2020

24 June 2020, EUR/USD

Remain long

Technical observation

EUR continues to rise towards the resistance line 1.1453, I bought this pair within the supportive zone 1.1176-1.1158 after a bounce and I am holding on to that position with my take profit at 1.1453 and stop loss at 1.1075. If this take profit is triggered, my expectation is either a clear breakout above it with a big green candle or a rejection at it followed by another retracement to the above-mentioned zone. In case of a breach above the line 1.1453, wait for a correction to it before you continue long with this pair. Short positions may only be recommended in case there’s a clear breakdown below 1.1176-1.1158.

Trade recommendation

Remain bullish with your take profit at 1.1453.

Imelda Maseno
Analyst of «FreshForex» company
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