We're bearish towards 1.1682. | 19 Octubre 2020

19 Octubre 2020, EUR/USD

We're bearish towards 1.1682.

Technical observation

On the hourly chart above, price retraced to a resistance zone 1.1724-1.1721 but did not break above it but bounced within the zone before rallying downwards. As long as EUR is contained below the above-mentioned zone, you can only anticipate bearish movements of price. Currently price is trading below the zone with an increasing bearish momentum and I expect it to decline to the supportive level 1.1682 followed by a clear breakout below it with a big red candle. My advice, if you sold EUR within 1.1724-1.1721 after a bounce, remain short with your take profit at 1.1682 and stop loss at 1.1735.

Trade recommendation

Remain bearish with your take profit at 1.1682.

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.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus