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We're bullish towards 1.2252.

We're bullish towards 1.2252. | 07 April 2021

07 April 2021, EUR/USD

We're bullish towards 1.2252.

Technical observation

Since beginning of this week, EUR has risen with a big green candle and is still showing showings of rising even further. I expect this upwards movement to continue to the key level 1.2252 followed by either a clear breakout above it with a big green candle, or a rejection at it followed by another correction to the supportive zone 1.1642-1.1588. If you are currently long with this pair, remain so with your take profit at 1.2252 and stop loss at 1.1426. In case you are flat, wait for either another correction to the zone 1.1642-1.1588 or a break above the level 1.2252 to buy this pair. I can only recommend short positions below 1.1642-1.1588.

Trade recommendation

Remain long with your take profit at 1.2252.

Imelda Maseno
Analyst of «FreshForex» company
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