We're long towards 1.1989 | 26 November 2020

Technical observation

The pair EUR/USD retraced to the supportive level 1.1895 but it did not break below it; price bounced at it and is currently trading with an increasing bullish momentum. I expect this upwards movement to continue to the key level 1.1989 followed by a clear breakout above it for a further surge to the upper side. My advice, if you bought EUR at the line 1.1895 after a bounce, remain in the trade with your take profit at 1.1989 and stop loss at 1.1782. On the 4-hour chart above, as long as price is contained above the key level 1.1895, you can only anticipate bullish movements of this pair.

Trade recommendation

Remain bullish towards 1.1989.