We're long towards 1.1389 | 18 June 2020
18 June 2020, EUR/USD
Technical observation
On the chart above, price pulled back to the supportive zone it established around 1.1216-1.1204 but could not break below it and a contained. Currently EUR is trading with an increasing bullish momentum above the zone and I expect this upwards movement to continue to the resistance line 1.1389 followed by a possible breakout above it with a big green candle. If you bought this pair within the zone 1.1216-1.1204 after a bounce, remain long with your take profit at 1.1389 and stop loss at 1.1153. You can only anticipate bearish rally below the zone 1.1216-1.1204 towards the supportive key level 1.1041.
Trade recommendation
Remain bullish with your take profit at 1.1389.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
