Wait | 26 October 2020

26 October 2020, EUR/USD

Technical observation

On the daily chart above, price is trading with an increasing bearish momentum between a supportive zone 1.1744-1.1718 and a resistance line 1.2009. I expect this bearish movement to continue to the zone mentioned above followed by a rejection within it to pick long positions with my take profit the key level 1.2009. In case there is no bounce within the zone but a clear break below it with a big red candle, wait for a correction to the just broken zone and a bounce within it confirming a possible surge to the lowers side before you pick short positions towards 1.1453 and stop loss at 1.1824.

Trade recommendation

Wait for a correction to 1.1744-1.1718 to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus