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We're short towrads 1.0776

We're short towrads 1.0776 | 21 May 2020

21 May 2020, EUR/USD

Technical observation

Yesterday EUR bounced at the resistance line 1.0985 as I had predicted and is currently trading with an increasing bearish momentum. I expect this downwards movement to continue to the supportive line 1.0776 followed by a clear penetration below it with a big red candle. At the line 1.0985 was the ideal place to sell this pair after a rejection, if you went short at the level 1.0985, remain in the trade with your take profit at 1.0776 and stop loss at 1.1058. As long as EUR is contained below the line 1.0985, only short positions look ideal and I can recommend. We can only anticipate bullish movements of Euro above the line 1.0985.

Trade recommendation

Remain short with your take profit at 1.0776

Imelda Maseno
Analyst of «FreshForex» company
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