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Wait | 10 November 2020

10 November 2020, EUR/USD

Technical observation

On the chart above, price is trading with an increasing bearish momentum above a supportive zone 1.1808-1.1803. I expect this bearish rally to continue to the same zone followed by a clear bounce within it for a possible surge to the upper side. My advice, wait for a correction to 1.1808-1.1803 and a rejection within it to buy EUR with your take profit at 1.1894 and stop loss at 1.1771. In case there is a clear break above the line 1.1894 with a big green candle, I expect the value of this pair to rise further towards the key level 1.1964 after a correction to the just broken zone followed by a clear bounce within it.

Trade recommendation

Wait for a correction to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
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