Remain flat temporarily. | 13 Juli 2020

13 Juli 2020, EUR/USD

Technical observation

EUR is trading with an increasing bullish momentum below a resistance zone 1.1460-1.1404. My expectation is a rejection of this bullish momentum within the above-mentioned zone for bearish price rally towards the supportive level 1.0815. My advice, remain flat temporarily and wait for a bounce within the zone 1.1460-1.1404 to sell this pair with your take profit at 1.0815 and stop loss at 1.1753. In case there is no rejection within the zone 1.1460-1.1404 but a clear breakout above it with a big green candle, wait for a correction to the just broken zone and a bounce before you pick long positions towards 1.2455.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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