Remain long | 23 June 2020

Technical observation

EUR retraced to the supportive zone it established around 1.1176-1.1158 and could not penetrate below it, price bounced within the zone and is currently trading with an increasing bullish momentum towards a resistance line 1.1453. I expect bullish rally to the line 1.1453 followed by a clear penetration above it with a big green candle for further upwards movements of EUR. If you bought this pair within the zone 1.1176-1.1158 after a bounce, remain long with your take profit at 1.1453 and stop loss at 1.1075. On the daily chart above, as long as price is contained above 1.1176-1.1158 we can only expect bullish movements.

Trade recommendation

Remain long with your take profit at 1.1453.