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We're long towards 1.1989

We're long towards 1.1989 | 26 November 2020

26 November 2020, EUR/USD

We're long towards 1.1989

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.

Imelda Maseno
Analyst of «FreshForex» company
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