25 Enero 2022, EUR/USD
Technical observation
On the weekly chart above price retraced to the resistance zone 1.1413-1.1375 but could not break above it, since then it has been trading with an increasing bearish bias and I expect a continuation of this downwards movement to the supportive level 1.0697 followed by either a bounce at it or a clear breakout below it with a big red candle. My advice, if you sold EUR within the zone mentioned above after a bounce, remain short with your take profit at 1.0697 and stop loss at 1.1568. In case of a clear break below the level 1.0697 with a big red candle, wait for a correction to it before you continue short with this pair.
Trade recommendation
Remain short with your take profit at 1.0697.
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