We're bullish towards 1.1793 | 20 October 2020
20 October 2020, EUR/USD
Technical observation
Yesterday price rose tremendously penetrating above the supportive zones (1.1724-1.1721) and (1.1765-1.1762) respectively. Price then rose up to the resistance line 1.1793 but was contained below it then pulled back to the zone 1.1765-1.1762 and bounced within it before rallying upwards. EUR is still trading with an increasing bullish momentum and I expect this upwards movement to continue to the resistance line mentioned above followed by a clear breakout above it for a surge to the upper side. If you bought this pair within the above-mentioned zone after a bounce, remain long with your take profit at 1.1793.
Trade recommendation
Remain long with your take profit at 1.1793.
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.
