Wait | 02 June 2020

Technical observation

On the hourly chart above, price penetrated above a resistance 1.1041-1.1030 with a big green candle and as long as price is contained above it, we can only anticipate bullish movements of price. EUR is currently trading above the just broken zone and i expect a retracement followed by a bounce within it for bullish momentum. My advice, wait for a pullback to the just broken zone and a rejection within it to buy EUR with your take profit at 1.1251 and stop loss at 1.0973. If this take profit is hit and there is clear breakout above it, you can expect further bullish movements of this pair.

Trade recommendation

Wait for a pullback to 1.1041-1.1030 to buy EUR.