Remain long | 18 August 2020

18 August 2020, EUR/USD

Technical observation

EUR is rising steadily below a resistance line 1.1995 with an increasing bullish momentum. I expect this bearish rally to continue to the line followed by a clear breakout above it with a big green candle. My advice, if you bought this pair within the zone 1.1734-1.1714 after a bounce, remain in the trade and pick your profits at 1.1995. In case this take profit it triggered and there is a clear breakout above it with a big green candle, wait for a correction to the just broken line and a bounce at it to confirm further bullish movements of price before you continue long with your take profit at 1.2226.

Trade recommendation

Remain long with your take profit at 1.1995.

Imelda Maseno
Analyst of «FreshForex» company
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