20 мая 2020, EUR/USD
Technical observation
EUR has been rising steadily towards the resistance line 1.0985 and is currently trading below it with an increasing bearish momentum. I expect a rejection of this bullish movement at the line for possible bearish price rally toward the supportive level 1.0776. However, this pair could still penetrate above the line 1.0985 with a big green candle and if this happens, I expect bullish movements towards the resistance zone 1.1205-1.1191. Right now as it is on the daily chart above, remain flat temporarily and wait for a rejection at the line 1.0985 to sell EUR with your take profit at 1.0776 and stop loss at 1.1058.
Trade recommendation
Remain neutral temporarily.
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