25 November 2020, EUR/USD
Technical observation
Yesterday, EUR rose and hit the take profit level we placed at 1.1895. Price then broken above the same line and is still trading with an increasing bullish momentum. However, I expect a correction to the just broken line followed by a bounce at it for a further surge in the value to the upper side. My advice, remain flat temporarily and wait for a correction to the line 1.1895 and a bounce at it to pick long position with your take profit at 1.1989 and stop loss at 1.1869. On the 4-hour chart above, as long as price is contained above the line 1.1895, I can only recommended bullish positions for the pair.
Trade recommendation
Remain flat temporarily.
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