Wait | 16 September 2020
16 September 2020, EUR/USD
Technical observation
EUR bounced at a resistance 1.1888 before rallying downwards. Right now price is trading with an increasing bullish bias below the same line and I expect this upwards movement to continue to the line followed by a rejection at it to sell EUR. My advice, wait for a correction to the line 1.1888 and a rejection at it to sell EUR with your take profit at 1.1725 and stop loss at 1.1970. In case there is a clear breakout below the supportive zone 1.1725-1.1708 with a big red candle, wait for a correction to it and a bounce to confirm further bearish movements of EUR before you continue short with this pair towards 1.1517.
Trade recommendation
Wait for a correction to the line 1.1888 to sell 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.
