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Still bullish towards 1.2016

Still bullish towards 1.2016 | 18 September 2020

18 September 2020, EUR/USD

Still bullish towards 1.2016

Technical observation

O the chart above, price is trading with an increasing bullish momentum above a supportive level 1.1755. I expect this upwards movement to continue to the resistance line1.2016 followed by either a clear breakout above it with a big green candle or a rejection at it. My advice, if you bought EUR at the line 1.1755 after a rejection, remain long with your take profit at 1.2016 and stop loss at 1.1628. In case of a break above the line 1.2016 with a big green candle, wait for a pullback to it to confirm a further surge to the upper side before you continue long with this pair towards the upper resistance line 1.2250.

Trade recommendation

Remain long with your take profit at 1.2016.

Imelda Maseno
Analyst of «FreshForex» company
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