Remain bullish towards 1.2013 | 11 August 2020

11 August 2020, EUR/USD

Technical observation

Yesterday EUR corrected to the supportive zone 1.1751-1.1729 with a big red candle and bounced within it. Today I expect bullish movements of this pair towards the resistance line 1.2013 followed by a clear break above it for further upwards movements of price. My advice, if you bought EUR within the zone mentioned above after a bounce, remain long with your take profit at 1.2013 and stop loss at 1.1643. In case of a clear breakout below the zone 1.1751-1.1729 with a big red candle, wait for a pullback to the just broken zone and a bounce within it to confirm possible bearish movements before you sell EUR.

Trade recommendation

Remain long with your take profit at 1.2013.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .