03 August 2020, EUR/USD
Technical observation
EUR is trading with an increasing bullish momentum above a supportive zone 1.1513-1.1459 it recently penetrated above with a big green candle. I expect a pullback to the supportive zone followed by a rejection within it for bullish movements of price towards the key level 1.2463. My advice, remain flat and wait for a correction to the zone 1.1513-1.1459 and a rejection within it to buy EUR with your take profit at 1.2463 and stop loss at 1.1296. On the weekly chart above, as long as price is contained above the zone 1.1513-1.1459 we can only expect upwards movements of this pair.
Trade recommendation
Remain flat.
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