27 January 2021, EUR/USD
Technical observation
On the chart above, price is trading with an increasing bearish bias, my expectation is a rally to the supportive zone 1.1513-1.1450 followed by a bounce within it to pick long positions. My advice, remain Flat and wait for a retracement to the zone mentioned above and a bounce within it to buy EUR with your take profit at 1.2249 and stop loss at 1.1109. In case of a clear breakout above the line 1.2249 with a big green candle, wait for a correction to it before you continue long with your next take profit at 1.3367. As it is on the chart above, only bullish positions look ideal and can be recommended.
Trade recommendation
Remain neutral.
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