Remain long | 21 October 2020

Technical observation

Yesterday I bought EUR within 1.1765-1.1762 and it rose steadily and hit my take profit at 1.1793. Price then broke above 1.1793 with a big green candle and rallied further upwards penetrating another resistance line marked at 1.1821. It however retraced to the just broken level and was contained above it. Right now EUR is trading with an increasing bullish bias and I expect this movement to continue to the line 1.1869. If you bought EUR at the line 1.182 1after a bounce, remain long with your take profit at 1.1869 and stop loss at 1.1807. You can only anticipate a momentum to the upper side.

Trade recommendation

Remain long with your take profit at 1.1869.