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Wait | 16 February 2022

16 February 2022, EUR/USD

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Technical observation

On the weekly chart above, price has been trading with an increasing bullish bias despite the bearish movement I anticipated last week, in case the value of this pair rises to the resistance zone 1.1461-1.1429 this week, if you are currently neutral with this pair you can pick long positions within the same zone after a bounce with your take profit at 1.0697 and stop loss at 1.1694. In case price is not sustained below the zone I have mentioned above but clearly breaks above it with a big green candle, wait for a correction to the broken zone then buy a bounce within it with your take profit at the resistance level 1.2252.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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