14 June 2022, EUR/USD
Technical observation
On the weekly chart above price is trading with an increasing bearish bias slightly above the supportive level 1.0405. I expect a loss of this downwards movement followed by a correction to the resistance zone 1.1541-1.1495 and a rejection within it to pick short positions with my take profit at 1.0405 and stop-loss at 1.1877. In case of a clear break below the level 1.0405, I expect the value of the pair above to plummet further to the lower side, on the other hand, should there be a clear breakout above the zone 1.1541-1.1495, I expect possible bullish movements of price towards the resistance level 1.2540 or even higher to 1.3951.
Trade recommendation
Remain flat.
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