Remain neutral | 19 Juni 2020

19 Juni 2020, EUR/USD

Technical observation

EUR did not rise as I had predicted yesterday and instead it declined to the supportive zone 1.1234-1.1210. Today this pair could either bounce within the above-mentioned zone or penetrate below it with a big red candle. In case of a rejection within the zone, you can pick long positions with it with your take profit at 1.1459 and stop loss at 1.1133. However, in case there is penetration below the zone 1.1234-1.1210 with a big red candle, wait for a pullback to the just broken zone and a rejection within it to confirm possible bearish price rally before you sell this pair with your take profit at 1.0982 and stop loss at 1.1296.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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