10 Juli 2020, EUR/USD
Technical observation
On the weekly chart above, price has been trading with an increasing bullish momentum for two consecutive weeks now. This week’s candle is trading with an increasing bullish momentum within a supportive zone 1.1460-1.1404 and I expect it to close within the zone for possible bearish momentum. My advice, sell EUR within the zone mentioned above after a rejection with your take profit at 1.0815 and stop loss at 1.1564. In case there is clear break above the zone 1.1460-1.1404 with a big green candle, I anticipate bullish movements after a correction to the just broken zone and a rejection
Trade recommendation
Sell EUR within 1.1460-1.1404 with your take profit at 1.0815.