We're still bullish towards 1.1989 | 11 September 2020

Technical observation

EUR is still trading with an increasing bullish momentum above a supportive zone 1.1716-1.1689, I expect this bullish movement to continue to the resistance line 1.1989 followed by either a rejection at it or a clear breakout above it with a big green candle. If you bought this pair within the supportive zone mentioned above after a bounce, remain long with your take profit at 1.1989 and stop loss at 1.1567. In case of a bounce above 1.1989, wait for a correction to the just broken line before you continue long with EUR. Bearish movements of the pair on the daily chart above can only be anticipated below 1.1716-1.1689.

Trade recommendation

Remain bullish with your take profit at 1.1989.