24 Enero 2023, EUR/USD
Technical observation
On the chart above price did not bounce within the zone 1.0832-1.0740 but instead rose above it and currently it is trading with an increasing bullish bias above the same zone. This week I expect a continuation of this upwards movement and for the price to close bullish, I also anticipate a correction to the zone I have mentioned above followed by a rejection within it however, I recommend that you remain neutral and wait for a second correction to the zone before you pick bullish positions with your take profit at 1.2258 and stop-loss at 1.0445. If there is a clear break above the level 1.2258, I expect the value of EUR to ascend towards the level 1.5013.
Trade recommendation
Remain neutral.
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