Looking to buy EUR | 20 June 2019
20 June 2019, EUR/USD
Technical observation
On the 4-hour chart above price rose steadily to the upper side towards a resistance zone 1.1262-1.1256 but could not be contained below it and ended up penetrating above with a big green candle. Currently EUR is trading above the just broken zone on an increasing bullish bias and I expect a retracement to it followed by a bounce within it for possible bullish price rally towards the key level 1.1331, if this line is broken then more bullish price rally towards 1.1406 can be expected. My advice, wait for a pullback to the just broken zone and a rejection within it to buy EUR with your take profit at 1.1331 and stop loss at 1.1233.
Trade recommendation
Wait for a correction to buy EUR.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
