Looking to buy EUR | 20 Juni 2019

20 Juni 2019, EUR/USD

Looking to buy EUR

Technical observation

On the 4-hour chart above price rose steadily to the upper side towards a resistance zone 1.1262-1.1256 but could not be contained below it and ended up penetrating above with a big green candle. Currently EUR is trading above the just broken zone on an increasing bullish bias and I expect a retracement to it followed by a bounce within it for possible bullish price rally towards the key level 1.1331, if this line is broken then more bullish price rally towards 1.1406 can be expected. My advice, wait for a pullback to the just broken zone and a rejection within it to buy EUR with your take profit at 1.1331 and stop loss at 1.1233.

Trade recommendation

Wait for a correction to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
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