We're bullish towards 1.2009. | 09 October 2020

Technical observation

EUR is still trading with and increasing bullish bias above the supportive zone 1.1744-1.1715 and as long as it is contained above this zone, you can only anticipate bullish movements of this pair towards the resistance line 1.2009. If you bought EUR within the above-mentioned zone after a bounce, remain long with your take profit at 1.2009 and stop loss at 1.1630. In case of a clear break below the zone 1.1744-1.1715 with a big red candle, wait for a correction to the just broken zone and a bounce within it to confirm bearish rally before you pick short positions towards the key level 1.1453.

Trade recommendation

Remain bullish with your take profit at 1.2009.