29 Oktober 2020, EUR/USD
Technical observation
EUR rallied downwards for several days now and is currently trading within a supportive zone 1.1744-1.1715. My expectation is a rejection of price within the zone for bullish momentum towards the resistance line 1.2009. However, price could still penetrate below the above-mentioned zone. My advice, buy a bounce within 1.1744-1.1715 with your take profit at 1.2009 and stop loss at 1.1625. In case price does not bounce within the zone mentioned above but clearly breaks below it with a big red candle, wait for a pullback to it confirming bearish rally before you sell EUR with your take profit at 1.1453.
Trade recommendation
Buy EUR within 1.1744-1.1715 with your take profit at 1.2009.