We're long | 27 Agustus 2020

27 Agustus 2020, EUR/USD

We're long

Technical observation

On the 4 hour chart above EUR rose with a big green candle and is still showing signs of rising even further towards the key level 1.1896. If you are currently long with this pair, remain in the trade with your take profit at 1.1896 and stop loss at 1.1634. In case there is a clear breakout above the line 1.1896 with a big green candle, wait for a correction to the just broken line and a rejection at it confirming further bullish movements of price before you continue long with this pair. As it is on the chart above, short positions can only be recommended in case pf a clear penetration below the zone 1.1725-1.1712.

Trade recommendation

Remain long.

Imelda Maseno
Analyst of «FreshForex» company
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