Remain flat | 15 July 2020

Technical observation

EUR broke above a resistance line 1.1336 with a big green candle and is currently trading with an increasing bearish momentum. I expect this downwards movement to continue to the just broken line followed by a bounce at it for possible bearish movements of price. My advice, remain flat temporarily and wait for a correction to the line 1.1336 and a rejection at it to buy EUR with your take profit at 1.1477 and stop loss at 1.1286. In case of a clear breakout above the line 1.1477wait for a correction to the just broken line and a rejection to confirm further bullish movements of price before you continue long.

Trade recommendation

Remain flat.