28 August 2020, EUR/USD
Technical observation
On the daily chart above, price is trading with an increasing bearish momentum above a supportive zone 1.1731-1.1711. I expect this downwards movement to continue to the above-mentioned zone followed by a rejection within it for bullish price rally. My advice, wait for a correction to the zone 1.1731-1.1711 and a rejection within it to buy EUR with your take profit at 1.1965 and stop loss at 1.1595. In case there is a clear breach below the supportive zone 1.1731-1.1711 with a big red candle, wait for a correction to the just broken zone and a rejection within it before you pick short positions towards 1.1454.
Trade recommendation
Wait for a correction to 1.1731-1.1711 to buy EUR.
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