Still bullish towards 1.2016 | 18 September 2020
18 September 2020, EUR/USD
Technical observation
O the chart above, price is trading with an increasing bullish momentum above a supportive level 1.1755. I expect this upwards movement to continue to the resistance line1.2016 followed by either a clear breakout above it with a big green candle or a rejection at it. My advice, if you bought EUR at the line 1.1755 after a rejection, remain long with your take profit at 1.2016 and stop loss at 1.1628. In case of a break above the line 1.2016 with a big green candle, wait for a pullback to it to confirm a further surge to the upper side before you continue long with this pair towards the upper resistance line 1.2250.
Trade recommendation
Remain long with your take profit at 1.2016.
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.
