20 Oktober 2020, EUR/USD
Technical observation
Yesterday price rose tremendously penetrating above the supportive zones (1.1724-1.1721) and (1.1765-1.1762) respectively. Price then rose up to the resistance line 1.1793 but was contained below it then pulled back to the zone 1.1765-1.1762 and bounced within it before rallying upwards. EUR is still trading with an increasing bullish momentum and I expect this upwards movement to continue to the resistance line mentioned above followed by a clear breakout above it for a surge to the upper side. If you bought this pair within the above-mentioned zone after a bounce, remain long with your take profit at 1.1793.
Trade recommendation
Remain long with your take profit at 1.1793.