Buy EUR at 1.1251 | 09 Juni 2020

09 Juni 2020, EUR/USD

Buy EUR at 1.1251

Technical observation

EUR is rallying with an increasing bearish momentum just above a supportive level it recently penetrated above. Unless there is a clear breach to the lower side with a big red candle, I expect a momentum to the upper side. As it is on the 4-hour chart above, I highly recommend remaining neutral now and looking for a buy position at the level 1.1251 with your take profit at 1.1492 and stop loss at 1.1181. If price breaks above this take profit with a big green candle, I anticipate further bullish price movements. A surge to the lower side can only be expected below the key level 1.1251 towards 1.1041.

Trade recommendation

Buy EUR at 1.1251 with your take profit at 1.1492

Imelda Maseno
Analyst of «FreshForex» company
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