Remain flat | 27 July 2020

27 July 2020, EUR/USD

Remain flat

Technical observation

Last week, I predicted bearish movements of price form within the resistance zone 1.1513-1.1459 towards the supportive level 1.0803. However, price went contrary to my prediction and penetrated above the resistance zone mentioned above with a big green candle. I expect a retracement to the just broken zone followed by a rejection within it for bullish movements of price towards the resistance line marked at 1.2463. My advice, remain flat and wait for a correction to the zone 1.1513-1.1459 and a rejection within it to buy EUR with your take profit1.2463 and stop loss at 1.1300.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .