14 Juli 2020, EUR/USD
Technical observation
EUR pulled back to a supportive zone it established around 1.1176-1.1158, price then bounced within the zone and is trading with an increasing bullish momentum towards a resistance line 1.1425. My expectation is either a clear penetration above the line with a big green candle, or a bounce at it. In case of a break above 1.1425, wait for a correction to it and a bounce to buy EUR with your take profit at 1.1624, and should there be a bounce at it, remain flat and wait for another retracement to the zone 1.1176-1.1158 to rebuy EUR. If you are currently long with this pair, remain so and pick your profit at 1.1425.
Trade recommendation
Remain long with your take profit at 1.1425.