27 февраля 2020, EUR/USD
Technical observation
EUR has been rising steadily towards a key resistance level 1.0697. Yesterday, price reached this level but could not penetrate above it and was rejected and as long as EUR is below this line, only short positions can be recommended. Sell EUR right now at 1.0697 with your take profit at 1.0707 and stop loss at 1.0957. If this take profit is reached and there a clear breakout below it with a big red candle, further bearish movements of this pair can be anticipated. On the daily chart above long positions may only be recommended above the resistance zone 1.1181-1.11511 towards the key level 1.1480.
Trade recommendation
Sell EUR at 1.0697 with your take profit at 1.0707.
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