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Remain long

Remain long | 14 August 2020

14 August 2020, EUR/USD

Remain long

Technical observation

EUR continues to rise steadily above the supportive key level it established around 1.1712 and I expect this bullish movement to continue to the resistance line 1.1965 followed by a clear breakout above it for a further to the upper side. If you bought this pair around the support 1.1712, hold on to that position with your take profit at 1.1965 and stop loss at 1.1595. Should there be a clear penetration below the line 1.1712 with a big red candle, wait for a pullback to the just broken line and a rejection at it confirming bearish movements of price before you pick short positions towards the key level 1.1453.

Trade recommendation

Remain long with your take profit at 1.1965.

Imelda Maseno
Analyst of «FreshForex» company
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