Looking to buy EURUSD | 27 June 2019

Technical observation

Since the beginning of the week this pair has been declining steadily towards a trend line as shown on the chart above and my expectation is a rejection of it at the line for possible bullish momentum towards the zone 1.1823-1.1798 and a possible penetration above it for a further rise. I’m looking to buy this pair at the line after a bounce with my take profit at 1.1798 and stop loss at 1.2226, in case there’s no rejection at the trend line but a breach below it then downwards movements of EUR can be expected after a correction, however, should there be a clear breach above 1.1823-1.1798 then more bullish movements can be anticipated.

Trade recommendation

Wait for a correction to buy EUR.