Wait | 10 April 2020
10 April 2020, EUR/USD
Technical observation
Yesterday EUR went up above the key resistance level 1.0897 with a big green candle and is currently rallying above it. Bearish movements towards the just broken level can be expected. This anticipated bearish movement is a retracement to the just broken level for possible bullish price rally towards the resistance zone 1.1150-1.1131. Wait for a correction to 1.0897 and rejection at it to buy EUR with your take profit at 1.1131 and stop loss at 1.0816. In case price is not contained above level 1.0897, then the penetration above it as false and so bearish rally of this pair can still be expected towards 1.0660.
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.
