28 January 2021, EUR/USD
Technical observation
On the 4 hour chart above price has been rallying downwards significant following its rejection within the resistance zone 1.2182-1.217. Right now, EUR is trading above a supportive level 1.2050 with an increasing bearish bias and expect either a loss of this downwards movement at the line followed by another retracement to the zone mentioned above, or, a clear breakout below the line 1.2050 followed by a pullback to it and a bounce for a surge to the lower side. My advice, if you are currently short with EUR, pick your profits at 1.20250.
Trade recommendation
Remain short with your take profit at 1.2050.
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