03 Junio 2022, EUR/USD
Technical observation
On the hourly chart above price retraced to the supportive zone 1.0641-1.1649 but could not break below it, instead, it bounced within the same zone and since then it has been trading with an increasing bullish bias. As long as the value of the pair above is sustained above the zone 1.0641-1.1649, I expect it to rise towards the key level 1.0786 followed by either a clear break above it or a bounce at it. If you are currently holding bullish positions with EUR I would advise that you remain in the trade with your take profit at 1.0786 and stop-loss at 1.2367. Should there be a clear break above the level 1.0786 continue long towards 1.0928 after a pullback to the broken line.
Trade recommendation
Remain long with your take profit at 1.0786.
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