01 Abril 2021, EUR/USD
Technical observation
EUR is trading with an increasing bearish momentum above a supportive level 1.1632 and I expect this downwards movement to continue to the same level followed by either a clear breakout below it with a big red candle, or a bounce at it followed by a correction to the resistance zone 1.2011-1.1965. If you are currently short with this pair, remain in the trade with your take profit at 1.1632 and stop loss at 1.2117. If price penetrates below the line 1.1632 with a big red candle, wait for a correction to it and a bounce confirming further bearish movements before you pick short positions towards the lower supportive level 1.1172.
Trade recommendation
Remain short with your take profit at 1.1632.
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