Wait for a correction to re-buy EUR | 02 September 2020
02 September 2020, EUR/USD
Technical observation
On the daily chart above, EUR did not break above the line 1.1989; price bounced at it and is currently trading with an increasing bearish momentum. This bearish rally is a correction to the supportive zone indicated on the chart above at 1.1716-1.1689 and I expect a rejection of it within the zone for bullish movements of price towards the key lien 1.1989. My advice, wait for a correction to the zone, 1.1716-1.1689 and a rejection at it to re-buy EUR with your take profit at 1.1989 and stop loss at 1.1588. Short positions can only be recommended below1.1716-1.1689 towards 1.1424.
Trade recommendation
Wait for a correction to 1.1716-1.1689 to re-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.
