Remain flat | 28 Juli 2020

28 Juli 2020, EUR/USD

Technical observation

On the chart above, price rose steadily up to resistance line 1.1751 but could not penetrate above it. Currently EUR is trading with an increasing bearish momentum and I expect this movement to continue to the supportive line 1.1454 and a rejection at it for possible bullish movements. My advice, remain flat and wait for a correction to the line 1.1454 and a rejection at it to buy EUR with your take profit at 1.1751 and stop loss at 1.1344. If this take profit is hit and there is clear breakout above it with a big green candle, wait for a pullback it and a bounce before you continue long with this pair.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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