Wait | 10 November 2020
10 November 2020, EUR/USD
Technical observation
On the chart above, price is trading with an increasing bearish momentum above a supportive zone 1.1808-1.1803. I expect this bearish rally to continue to the same zone followed by a clear bounce within it for a possible surge to the upper side. My advice, wait for a correction to 1.1808-1.1803 and a rejection within it to buy EUR with your take profit at 1.1894 and stop loss at 1.1771. In case there is a clear break above the line 1.1894 with a big green candle, I expect the value of this pair to rise further towards the key level 1.1964 after a correction to the just broken zone followed by a clear bounce within it.
Trade recommendation
Wait for a correction to buy EUR.
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.
