We're long | 21 September 2020

Technical observation

On the 4 hour chart above price is trading with an increasing bullish momentum and I expect a bounce at the resistance line 1.1895. If you bought this pair at the supportive line 1.1752 after a bounce, at the resistance line 1.1895 is the ideal place to pick your profits. However, if you are currently flat with this pair, wait for a clear breakout above the line 1.1895 and a correction to confirm a further surge to the upper side before you buy EUR. In case of a penetration below the line 1.1752 with a big red candle, you can anticipate a correction to it followed by a surge of price to the lower side towards 1.1594.

Trade recommendation

Remain bullish with your take profit at 1.1895.