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We're bullish towards 1.1349

We're bullish towards 1.1349 | 06 July 2020

06 July 2020, EUR/USD

Technical observation

On the chart above price is trading with an increasing bullish bias above a supportive zone 1.1205-1.1193. My expectation is a further rise towards the resistance line 1.1349 followed by a clear breakout above it with a big green candle. If you went long with EUR within the zone 1.1205-1.1193, remain in the trade with your take profit at 1.1349 and stop loss at 1.1126. However, In case price penetrate below the supportive zone 1.1205-1.1193 with a big red candle, wait for a pullback tot the just broken zone and a rejection within it to confirm possible bearish movements of price before you sell EUR.

Trade recommendation

Remain long with your take profit at 1.1349.

Imelda Maseno
Analyst of «FreshForex» company
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