We're bullish towards 1.2009. | 27 November 2020

27 November 2020, EUR/USD

We're bullish towards 1.2009.

Technical observation

The pair on the daily chart above is trading with an increasing bullish momentum below a resistance line 1.2009. My expectation is a rise to the line followed by a clear breakout above it with a big green candle for an upward momentum. If you are currently long with this pair, I would advise you remain so with your take profit at 1.2009 and stop loss at 1.1625. In case of a clear breakout above the line 1.2009 with a big green candle, wait for a correction to the just broken level and a bounce at it confirming a further surge to the upper side before you continue long with this pair towards the key level 1.2252.

Trade recommendation

Remain long with your take profit at 1.2009.

Imelda Maseno
Analyst of «FreshForex» company
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