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We are bullish towards 1.1349.

We are bullish towards 1.1349. | 29 June 2020

29 June 2020, EUR/USD

We are bullish towards 1.1349.

Technical observation

On the 4-hour chart above, EUR corrected to a supportive zone 1.1216-1.1204 and did not penetrate below it. Currently price is trading with an increasing bullish momentum above the zone and i expect this upwards movement to continue to the resistance line 1.1349. If you bought this pair within the zone 1.1216-1.1204 after a bounce, remain in the trade with your take profit at 1.1349 and stop loss at 1.1140. If you are not in a trade yet, you can still buy this pair now but if you are not willing to enter a trade now, wait for either a breach below 1.1216-1.1204 or a break above 1.1349 to trade EUR.

Trade recommendation

Remain long with your take profit at 1.1349.

Imelda Maseno
Analyst of «FreshForex» company
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