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Pick your profits at 1.1895

Pick your profits at 1.1895 | 20 November 2020

20 November 2020, EUR/USD

Pick your profits at 1.1895

Technical observation

On the 4-hour chart above, price has been rising steadily since it bounced within the supportive zone 1.1813-1.1807. Currently EUR is trading with an increasing bullish momentum below a resistance line 1.1895 and I expect either, a clear breakout above it with a big green candle, or a bounce at it followed by a correction to the zone mentioned above. In case of a break above the line 1.1895, wait for a pullback to it before you continue long and should there be a bounce at it wait for another retracement to 1.1813-1.1807 to buy EUR. Right now, remain long with this pair and pick your profits at 1.1895.

Trade recommendation

Remain long with your take profit at 1.1895.

Imelda Maseno
Analyst of «FreshForex» company
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