Wait | 08 June 2020

Technical observation

EUR rose tremendously breaking above a resistance zone 1.1150-1.1131. As it is on the chart above, price is pulling back to the just broken zone and I expect loss of this bearish rally within it. For this pair I would advise you wait for a correction to the zone 1.1150-1.1431 and buy a bounce within it with your take profit at 1.1453 and stop loss at 1.1055. In case price hits this take profit and clearly breaks above it, i expect price to surge further to the upper side after a correction to the broken line. On the chart above as long as price is contained above 1.1150-1.1131, I can only recommend buy orders for Euro.

Trade recommendation

Wait for a correction o 1.1150-1.1131 to buy EUR.