31 tháng Tám 2020, EUR/USD
Technical observation
Following its rejection within the supportive zone 1.1712-1.1693, EUR rose up to the resistance line 1.1932 but could not break above it. Currently price is trading below the line 1.1932 with an increasing bearish momentum. This bearish rally is a correction to the zone 1.1712-1.1693 and I expect a rejection within it to rebuy EUR with my take profit at 1.1932 and stop loss at 1.1598. In case of a break below 1.1712-1.1693, wait for a correction to the just broken zone and a bounce within it to sell EUR. However, as long as long as price is contained above 1.1712-1.1693 only long positions look ideal for this pair.
Trade recommendation
Wait for a correction to 1.1712-1.1693 to buy EUR.
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