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We're long towards 1.2341

We're long towards 1.2341 | 29 April 2021

29 April 2021, EUR/USD

Technical observation

EUR is rallying steadily to the upper side and I expect this bullish movement to continue to the resistance line 1.2341. As long as price is contained above the zone 1.1984-1.1965, it indicates that price is still within the buyers reach hence you can anticipate a momentum to the upper side, however, in case there is a clear breakout below the same zone, in case price rebounds to it and is contained within the zone, it will confirm the sellers are now in control of the market hence you can expect price to plummet to the level 1.1624. If you are currently long with this pair, remain long with your take profit at 1.2341 and stop loss at 1.1831.

Trade recommendation

Remain long with your take profit at 1.2341.

Imelda Maseno
Analyst of «FreshForex» company
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