17 November 2020, EUR/USD
Technical observation
On the 4 hour chart above price bounced within a supportive zone 1.1813-1.1807 and is currently trading with an increasing bullish momentum towards a resistance line. If you bought this pair within the zone mentioned above after a bounce, remain long with your take profit at 1.1895 and stop loss at 1.1781. However, if you are currently flat with this pair, wait for either a clear breakout above the line 1.1895 followed by a correction to it to buy EUR ,or, a bounce at the key level 1.1895 followed by a retracement to the zone 1.1813-1.1807 and a rejection within it to buy this pair. Only bullish positions are ideal for the pair above.
Trade recommendation
Remain long with your take profit at 1.1859