Looking to buy within 1.1880-1.1877 | 06 Juli 2021

06 Juli 2021, EUR/USD

Looking to buy within  1.1880-1.1877

Technical observation

EUR rose and broke above a resistance zone it established at 1.1880-1.1877, it is currently trading above the just broken zone with an increasing bullish bias and I expect a loss of this upwards movements followed by a correction to the just broken zone and a bounce within it for a surge to the upper side. My advice, wait for a correction to the just broken zone and a buy a bounce within it with your take profit at 1.1973 and stop loss at 1.1858. If price hits the key level 1.1973 and there is a clear breakout above it with a big green candle, I expect further bullish movements of price after a retracement to the just broken line.

Trade recommendation

Wait for a pullback to the zone 1.1880-1.1877 to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
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