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Remain long

Remain long | 18 November 2020

18 November 2020, EUR/USD

Remain long

Technical observation

EUR is trading with an increasing bullish bias above a supportive zone 1.1839-1.1832. I expect this upwards movement to continue to the resistance line 1.1919 followed by a clear breakout above it for a surge to the upper side. My advice, if you bought EUR within the zone 1.1839-1.1832 and is currently long, remain in the trade with your take profit at 1.1919 and stop loss at 1.1806. Should there be a clear breakout above the line 1.1919 with a big green candle, wait for a correction to it and a bounce confirming further bullish movements of price before you continue long towards the resistance line 1.2011.

Trade recommendation

Remain long with your take profit at 1.1919.

Imelda Maseno
Analyst of «FreshForex» company
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