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Wait | 01 July 2020

01 July 2020, EUR/USD

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Technical observation

On the daily chart above, price is trading with an increasing bearish momentum above a supportive zone 1.1176-1.1158. My expectation is a loss of this bearish rally within the above-mentioned zone for bullish movements of EUR towards the key level 1.1453. My advice, remain flat and wait for a correction to the above-mentioned zone and a rejection within it to buy EUR with your take profit at 1.1453 and stop loss at 1.1093. As long as price is contained above the zone 1.1176-1.1158, we can only anticipate upwards momentum of this pair.

Trade recommendation

Wait for a bounce within 1.1176-1.1158 to buy EUR with your take profit at 1.1453.

Imelda Maseno
Analyst of «FreshForex» company
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