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Looking to buy at 1.1719

Looking to buy at 1.1719 | 24 August 2021

24 August 2021, EUR/USD

Looking to buy at 1.1719

Technical observation

EUR rose and penetrated above a resistance level 1.1719; right now it is trading with an increasing bearish bias above the just broken line. This bearish movement is a retracement to the level 1.1719 and I expect a loss of it at the line for a momentum to the upper side. My advice, Remain flat temporarily and wait for correction to the line 1.1917 to buy EUR with your take profit at 1.1874 and stop loss at 1.1687. If you are skeptic to buy this pair on the first retracement to the level 1.1719, wait for a another correction to the same line to pick long positions. AS long as price is contained above the line 1.1719 o can only recommend bullish positions.

Trade recommendation

Remain neutral temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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