Remain flat | 09 July 2020

09 July 2020, EUR/USD

Remain flat

Technical observation

EUR is trading with an increasing bullish momentum below a supportive zone 1.1349. My expectation is a clear breakout above the line 1.1349 with a big green candle followed by a correction to it for bullish movements of price. My advice, remain flat and wait for a clear breakout above the line 1.13459 and a correction to it to buy EUR. In case there is no penetration above the line 1.1349 but a correction to the supportive zone 1.1205-1.1193, you can pick long positions within the zone with your take profit at 1.1349 and stop loss at 1.1122. On the 4 hour chart above we can only anticipate bullish movements.

Trade recommendation

Remain flat.


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.
Imelda Maseno
Analyst of «FreshForex» company
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