We're flat | 24 September 2020
24 September 2020, EUR/USD
Technical observation
Yesterday price continued to decline instead of rising towards the resistance zone 1.1774-1.1750 as expected. The anticipated bullish movement is a correction to the zone mentioned above followed by a rejection within it for bearish rally toward the supportive line 1.1453. My advice, remain neutral and wait for a correction to the zone 1.1774-1.1750 and a rejection within it to buy EUR with your take profit at 1.1453 and stop loss at 1.1845. Should there be a break below the line 1.1453 with a big red candle, wait for a retracement to it and a bounce confirming bearish momentum of EUR before you continue short towards 1.1150.
Trade recommendation
Remain neutral.
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.
