We're bullish towards 1.1349 | 06 July 2020
06 July 2020, EUR/USD
Technical observation
On the chart above price is trading with an increasing bullish bias above a supportive zone 1.1205-1.1193. My expectation is a further rise towards the resistance line 1.1349 followed by a clear breakout above it with a big green candle. If you went long with EUR within the zone 1.1205-1.1193, remain in the trade with your take profit at 1.1349 and stop loss at 1.1126. However, In case price penetrate below the supportive zone 1.1205-1.1193 with a big red candle, wait for a pullback tot the just broken zone and a rejection within it to confirm possible bearish movements of price before you sell EUR.
Trade recommendation
Remain long with your take profit at 1.1349.
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.
