Buy EUR at 1.1251 | 09 June 2020

Technical observation

EUR is rallying with an increasing bearish momentum just above a supportive level it recently penetrated above. Unless there is a clear breach to the lower side with a big red candle, I expect a momentum to the upper side. As it is on the 4-hour chart above, I highly recommend remaining neutral now and looking for a buy position at the level 1.1251 with your take profit at 1.1492 and stop loss at 1.1181. If price breaks above this take profit with a big green candle, I anticipate further bullish price movements. A surge to the lower side can only be expected below the key level 1.1251 towards 1.1041.

Trade recommendation

Buy EUR at 1.1251 with your take profit at 1.1492