We are short towards 1.0776 | 25 Mei 2020

25 Mei 2020, EUR/USD

We are short towards 1.0776

Technical observation

Euro continues to decline steadily towards the supportive level 1.0776 and I expect this bearish rally to continue to the support followed by a clear penetration below it with a big red candle. If you sold this pair at the line 1.0985 after a bounce, remain short with your take profit at 1.0776 and stop loss at 1.1047. In case of a clear beach below the level 1.0776 with a big red candle, wait for a correction to the just broken line and a rejection at it to confirm further bearish movement of price before you continue short with this pair. Bullish movements of EUR can only be anticipated above the key level 1.0985 towards 1.1191.

Trade recommendation

Remain short with your take profit at 1.0776.

Imelda Maseno
Analyst of «FreshForex» company
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