12 February 2021, EUR/USD
Technical observation
On the chart above, price is trading with an increasing bearish bias between a supportive level 1.2050 and a resistance zone 1.2182-1.2174, and I expect a decline to the level 1.2050 followed by a bounce at it to pick long positions. My advice, wait for a correction to the level 1.2050 and a rejection at it to buy EUR with your take profit at 1.2174 and stop loss at 1.2003. In case there is a clear breakout above the zone 1.2182-1.2174 with a big green candle, wait for a correction to it and a bounce confirming further bullish movements of price before you continue long with this pair towards the level 1.2307.
Trade recommendation
Remain flat.
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