10 August 2020, EUR/USD
Technical observation
EUR pulled back to a supportive zone it established around 1.1772-1.1751 but could not break below it. Price bounced within the zone mentioned above and today I expect bullish movements of this pair towards the resistance line 1.2055 followed by a clear breach above it for further upwards movements. My advice, buy EUR within the zone 1.1772-1.1751 with your take profit at 1.2055 and stop loss at 1.1640. On the daily chart above, as long as price is contained above the zone 1.1772-1.1751, you can only anticipate bullish price movements. Bearish movements can only be expected below the zone 1.1772-1.1751.
Trade recommendation
Buy EUR within the zone 1.1772-1.1751 with your take profit at 1.2055.
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