24 апреля 2020, EUR/USD
Technical observation
On the daily chart above, price was not rejected at the supportive level 1.0783, instead it penetrated below it and is still showing signs of bearish movements. I expect a retracement to the just broken line followed by a bounce at it for a surge towards the lower supportive level 1.0637. My advice, wait for a correction to the line 1.0783 and a rejection at it to sell EUR with your take profit at 1.0637 and stop loss at 1.0861. If this take profit is hit and there is a clear breakout below it with a big red candle, further bearish price movements towards the lowest supportive level 1.0340 can be anticipated.
Trade recommendation
Sell EUR at 1.0783 with your take profit at 1.0637.
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