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We're long

We're long | 11 November 2020

11 November 2020, EUR/USD

We're long

Technical observation

On the daily chart above, price is trading with an increasing bullish momentum above a zone 1.1744-1.1715; I you are currently long with EUR, remain so with your take profit at 1.2009 and stop loss at 1.1602. I expect a surge to the upper side towards the key level 1.2009, however, this pair ca still rally downwards and penetrate below the zone 1.1744-1.1715, if this happens, wait for a correction to the zone and a rejection within it to confirm possible bearish movements before you sell EUR with your take profit at 1.1453. As long as EUR is contained above 1.1744-1.1715, only bullish positions is ideal.

Trade recommendation

Remain long with your take profit at 1.2009.

Imelda Maseno
Analyst of «FreshForex» company
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