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Sell a bounce within 1.1750-1.1713

Sell a bounce within 1.1750-1.1713 | 25 September 2020

25 September 2020, EUR/USD

Sell a bounce within 1.1750-1.1713

Technical observation

EUR is retracing to the resistance zone 1.1750-1.1713, I expect a bounce of this upwards movements within the above-mentioned zone confirming possible bearish rally towards the supportive line 1.1453. My advice, wait for a rejection of price within the zone 1.1750-1.1713 to sell EUR with your take profit at 1.453 and stop loss at 1.1847. In case of a break below the line 1.1453 with a big red candle, wait for correction to it and a bounce to confirm further bearish rally of price before you continue short towards the lower supportive zone marked at 1.1150-1.1131 or level lower to the key levels 1.0897 and 1.660.

Trade recommendation

Sell a bounce within 1.1750-1.1713 with your take profit at 1.1453.

Imelda Maseno
Analyst of «FreshForex» company
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