Sell EUR at 1.0897 | 26 March 2020

Technical observation

On the daily chart above price is rallying just below a resistance level 1.0897 with an increasing bullish bias. A possible bounce at the line followed by a rally towards the supportive level 1.0660 can be expected, however, price could still penetrate above the line with a big green candle. In case of a bounce at the line 1.0897, you can sell this pair at it with your take profit at 1.0660 and stop loss at 1.0982. And should there be a clear breach above the line 1.0897, possible bullish movements of price can be anticipated after a correction to the just broken line followed by a clear rejection at it.

Trade recommendation

Sell EUR at 1.0897 with your take profit at 1.0660.