22 February 2021, EUR/USD
Technical observation
On the weekly chart above, price is trading with an increasing bullish bias below resistance line 1.2249, however, I expect a loss of this upwards movement for a correction to the zone 1.1513-1.1450. My advice, remain flat and wait for a correction to the zone mentioned above and a bounce within it to buy EUR with your take profit at 1.2249 and stop loss at 1.1172. In case price does not pullback to the zone mentioned above and instead penetrates above the line 1.2249 with a big green candle, wait for a pullback to the line before you buy this pair. I can only recommend bullish positions for the pair above
Trade recommendation
Remain flat.
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