12 March 2020, EUR/USD
Technical observation
Since its rejection at the resistance level 1.1453, EUR has been rallying with an increasing bearish momentum and I expect this downwards movement to extend lower to the supportive zone 1.1186-1.1175. A loss of this downwards movement can be expected within the zone followed by bullish momentum of this pair. Wait for the retracement to the zone 1.1186-1.1175 and a bounce within it to buy EUR with your take profit at 1.1453 and stop loss at 1.1096. In case of a penetration above the line 1.1453, wait for a retracement to it confirming further bearish movements before you continue long with EUR.
Trade recommendation
Wait for a retracement to 1.1186-1.1175 to buy EUR.
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