Remain flat

30 June 2020, EUR/USD

Remain flat

Technical observation

EUR is trading with an increasing bearish momentum above a supportive 1.1216-1.1204; my expectation is rejection within the above-mentioned zone for bullish movement of price, or a clear breakout below the zone with a big red candle. In case of a bounce within the zone, pick long position within it with your take profit at 1.1349 and stop loss at 1.1137. Should there be a clear breakout below 1.1216-1.1204, wait for a correction to it and a rejection to confirm possible bearish movements of price before you pick short positions. Right now, remain neutral is ideal than entering any position.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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