Still long | 15 September 2020

Technical observation

EUR retraced to a zone 1.1830-1.1778 it recently broke above and it was contained. This week I expect bullish movements towards the resistance line 1.2286 followed by a possible breakout above it. I bought this pair within the zone 1.1830-1.1778 after a bounce and I am holding on to that position with my take profit at 1.2286 and stop loss at 1.1582. Should there be a clear break below the zone 1.1830-1.1778 with a big red candle, wait for a correction to it and bounce to confirm bearish rally before you sell EUR. However, as long as price is contained above 1.1830-1.1778, only long position is ideal.

Trade recommendation

Remain long with your take profit at 1.2286.