Wait for a retracement to buy EUR | 12 Marzo 2020

12 Marzo 2020, EUR/USD

Wait for a retracement to buy EUR

Technical observation

Since its rejection at the resistance level 1.1453, EUR has been rallying with an increasing bearish momentum and I expect this downwards movement to extend lower to the supportive zone 1.1186-1.1175. A loss of this downwards movement can be expected within the zone followed by bullish momentum of this pair. Wait for the retracement to the zone 1.1186-1.1175 and a bounce within it to buy EUR with your take profit at 1.1453 and stop loss at 1.1096. In case of a penetration above the line 1.1453, wait for a retracement to it confirming further bearish movements before you continue long with EUR.

Trade recommendation

Wait for a retracement to 1.1186-1.1175 to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.