21 Marzo 2022, EUR/USD
Technical observation
On the chart above EUR retraced to the resistance level 1.1120 but could not break above it, instead price bounced at the line and on Friday it declined with a big red candle and today, I expect a continuation of this bearish movement towards the supportive level 1.0768. If you picked short positions at the level 1.1120 after a bounce, remain in the trade with your take profit at 1.0768 and stop loss at 1.1270. In case of a clear breakout below the level 1.0768 with a big red candle, wait for a correction to the broken line before you continue short with this pair, As it is on the chart above, I can only recommend bullish positions in case of a breakout above the level 1.1120.
Trade recommendation
Remain short with your take profit at 1.0768.
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