We're bullish towards 1.1425 | 14 Juli 2020

14 Juli 2020, EUR/USD

We're bullish towards 1.1425

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.

Imelda Maseno
Analyst of «FreshForex» company
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