Buy within 1.1744-1.1715 | 29 October 2020
29 October 2020, EUR/USD
Technical observation
EUR rallied downwards for several days now and is currently trading within a supportive zone 1.1744-1.1715. My expectation is a rejection of price within the zone for bullish momentum towards the resistance line 1.2009. However, price could still penetrate below the above-mentioned zone. My advice, buy a bounce within 1.1744-1.1715 with your take profit at 1.2009 and stop loss at 1.1625. In case price does not bounce within the zone mentioned above but clearly breaks below it with a big red candle, wait for a pullback to it confirming bearish rally before you sell EUR with your take profit at 1.1453.
Trade recommendation
Buy EUR within 1.1744-1.1715 with your take profit at 1.2009.
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.
