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Sell a bounce within 1.1513-1.1459

Sell a bounce within 1.1513-1.1459 | 22 July 2020

22 July 2020, EUR/USD

Technical observation

On the weekly chart above, price is trading with an increasing bullish momentum at the resistance zone 1.1513-1.1459. I expect possible bearish movements of price towards the supportive level 1.0803 followed by a clear break below it for a further surge to the lower side. In case there is no bearish movements of price but a clear breakout above the resistance zone 1.1513-1.1459 with a big green candle, wait for a correction to the just broken zone and a rejection to confirm bullish movements of price before you buy EUR. On your way upwards, the key levels to look for are 1.2463 and 1.3446.

Trade recommendation

Sell a bounce within 1.1513-1.1459 with your take profit at 1.0803.

Imelda Maseno
Analyst of «FreshForex» company
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