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We're long

We're long | 26 June 2020

26 June 2020, EUR/USD

We're long

Technical observation

EUR retraced to the supportive zone 1.1216-1.1204 and could not break below it. Price is currently trading with an increasing bullish momentum above the same zone and I expect this movement to continue to the resistance line 1.1349 followed by a clear breakout above it with a big green candle. Within the zone 1.1216-1.1206 was the ideal place to pick long position after a bounce with your take profit at 1.1349 and stop loss at 1.1140. In case there is clear breakout below 1.1216-1.1204 with a big red candle, wait for a pullback to it to confirm possible bearish rally before you short EUR towards 1.1030.

Trade recommendation

Remain long with your take profit at 1.1349.

Imelda Maseno
Analyst of «FreshForex» company
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