02 May 2022, EUR/USD
Technical observation
On Friday the value of the pair above rose with a big green candle, and today I expect a continuation of this upwards movement to the resistance level 1.0714 followed by a rejection at it to pick short positions with my take profit at 1.0340 and stop-loss at 1.0870. If price declines below the supportive level 1.0340, I expect it to descend further after a pullback to the broken level; however, in case of a clear penetration above the level 1.0714, you can anticipate possible bullish movements of price after a retracement to the same line. Right now as it is on the chart above, remaining neutral is ideal than picking any positions.
Trade recommendation
Remain flat.