25 February 2021, EUR/USD
Technical observation
On the daily chart above, price is trading with an increasing bullish momentum between a supportive zone 1.1964-1.1938 and a resistance line 1.2328.I expect the value of this pair to either decline to the zone mention above and bounce within it to buy EUR, or rise and penetrate above the key line 1.2328. In case of a rally to the zone 1.1964-1.1938, buy EUR within it after a bounce with your take profit at 1.2328 and stop loss at 1.1743. In case of a clear breakout above the line 1.2328, wait for a pullback to it and a bounce confirming bullish movements of price before you pick long positions.
Trade recommendation
Remain neutral.
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