Still bullish towards 1.1859 | 17 Noviembre 2020

17 Noviembre 2020, EUR/USD

Still bullish towards 1.1859

Technical observation

On the 4 hour chart above price bounced within a supportive zone 1.1813-1.1807 and is currently trading with an increasing bullish momentum towards a resistance line. If you bought this pair within the zone mentioned above after a bounce, remain long with your take profit at 1.1895 and stop loss at 1.1781. However, if you are currently flat with this pair, wait for either a clear breakout above the line 1.1895 followed by a correction to it to buy EUR ,or, a bounce at the key level 1.1895 followed by a retracement to the zone 1.1813-1.1807 and a rejection within it to buy this pair. Only bullish positions are ideal for the pair above.

Trade recommendation

Remain long with your take profit at 1.1859

Imelda Maseno
Analyst of «FreshForex» company
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