We're neutral | 23 October 2020

Technical observation

Yesterday EUR did not rally upwards as I had predicted, instead, it went down and is still showing signs of declining further. In case of a decline to the supportive zone 1.1744-1.1715 followed by a rejection within it, buy EUR within the zone with your take profit at the resistance line 1.2009. However, should there be a rise to the line 1.2009 followed by a clear break above it with a big green candle, you can expect this pair to surge to the upper side. On the chart above as long as price is contained above the zone 1.1744-1.1715, it is still within buyers reach and I can only recommend for bullish positions.

Trade recommendation

Remain flat.