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Buy a bounce within 1.1830-1.1778

Buy a bounce within 1.1830-1.1778 | 17 September 2020

17 September 2020, EUR/USD

Buy a bounce within 1.1830-1.1778

Technical observation

EUR is trading with an increasing bearish momentum within a supportive zone it established around 1.1830-1.1778. I expect a loss of this bearish movement within the above-mentioned zone to pick long position. My advice, wait for a correction to the zone 1.1830-1.1778 above and a rejection within it to buy EUR with your take profit at 1.2286 and stop loss at 1.1629. In case price is not contained above the zone but penetrates below it with a big red candle, then break above 1.1830-1.1778 was false and only bearish rally can be anticipated towards the supportive level marked at 1.1377.

Trade recommendation

Buy a bounce within 1.1830-1.1778 with your take profit at 1.2286.

Imelda Maseno
Analyst of «FreshForex» company
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