01 Junio 2022, EUR/USD
Technical observation
On the 4-hour chart above price is trading with an increasing bullish bias above the supportive zone 1.0649-1.0631 and as long as it is sustained above this zone I expect a continuation of this upwards movement towards the resistance level 1.0935. My advice, if you are currently holding bullish positions with the pair above, remain in the trade with your take profit at 1.0935 and stop-loss at 1.0548. In case of a clear break above the profit level mentioned above, wait for a correction to the same line and a bounce at it before you continue long with this pair towards the upper resistance level 1.1130 or even higher to the level 1.1478.
Trade recommendation
Remain long with your take profit at 1.0935.
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