16 June 2022, EUR/USD
Technical observation
On the chart above price is trading with an increasing bearish bias slightly above the supportive level 1.0359, my expectation is a loss of this downwards movement followed by a rally to the resistance zone 1.0595-1.0583. My advice, remain neutral and wait for a pullback to the zone mentioned above then pick long positions within it with your take profit at 1.0359 and stop-loss at 1.0676. If price is not sustained below the zone 1.0595-1.0583 but clearly breaks above it with a big green candle, I expect a possible surge to the key level 1.0762 after a pullback to the broken zone. A further momentum to the lower side can be expected below the level 1.0359.
Trade recommendation
Remain flat.
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