Wait | 31 July 2020
31 July 2020, EUR/USD
Technical observation
Since its penetration above a zone 1.1459-1.1513 with a big green candle, EUR has been trading with increasing bullish momentum. Last week this went up with a big green candle and I expect this week’s candle to close bullish too. However, I expect a correction to the above-mentioned zone followed by a clear bounce within it for possible bullish price movements. My advice, wait for a correction to the zone 1.1459-1.1513 and a bounce within it to buy EUR with your take profit at 1.2457 and stop loss at 1.1240. On your way upwards the key levels to look for include; 1.2457, 1.3446 and 1.4159.
Trade recommendation
Wait for a correction to 1.1459-1.1513 to buy EUR.
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.
