Wait for a correction to buy | 25 June 2019
25 June 2019, EUR/USD
Technical observation
On the daily chart above, EUR penetrated above a trend line it had established with a big green candle and is still rallying upwards, my expectation is a correction to the line followed by a bounce at it for bullish price rally towards the resistance zone 1.1823-1.1798 and a possible break above it too for a further rise in price. Wait for a correction to the broken line and a rejection at it to buy EUR with your take profit at 1.1798 and stop loss at 1.1221, in case of a breach above 1.1823-1.1798, wait for a retracement to it and a bounce within it confirming further bullish price momentum before you continue long towards 1.2185.
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.
