Remain long | 16 June 2020

Technical observation

EUR is trading with an increasing bullish momentum above a supportive zone 1.1234-1.1210 it corrected itself to but bounced within it. I expect this bullish movement to continue to the resistance line 1.1459 followed by a clear breach above it for further upwards movement of this pair. If you bought EUR within the above-mentioned zone after a rejection, remain long with your take profit at 1.1459 and stop loss at 1.1133. On the daily chart above, as long as price is contained above the zone 1.1234-1.1210, i can only anticipate upwards movements of EUR. Bearish rally can only be expected below 1.1234-1.1210.

Trade recommendation

Remain long with your take profit at 1.1459.