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We're bullish towards 1.2187

We're bullish towards 1.2187 | 14 June 2021

14 June 2021, EUR/USD

We're bullish towards 1.2187

Technical observation

On the chart above price retraced to a trend line as I have indicated on the chart above but did not break below it and as long as it is contained above this line, you can only anticipate a momentum to the upper side. If you picked long positions on the lower trend line after a bounce, hold on to that position with your take profit at 1.2187 and stop loss at 1.2050. In case of a clear penetration above the upper trend line indicated on the chart above, I expect a further momentum to the upper side after a correction to the just broken line and a rejection at it. On the chart above, I can only recommend bearish positions below the lower trend line.

Trade recommendation

Remain long with your take profit at 1.2187.

Imelda Maseno
Analyst of «FreshForex» company
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