25 April 2022, EUR/USD
Technical observation
On the daily chart above price declined up to the supportive level 1.0768 but could not break below it, instead it bounced at the line and right now my expectation is a correction to the resistance zone 1.1160-1.1132. My advice, remain flat and wait for a pullback to the zone mentioned above followed by a rejection within it to re-sell EUR with your take profit at 1.0768 and stop-loss at 1.1333. Should there be a clear penetration below the level 1.0768 I expect price to plummet further after a pullback to the broken line, on the other hand in case of a clear break above the zone 1.1160-1.1132, I expect a momentum towards the level 1.1483.
Trade recommendation
Remain flat.
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