05 Abril 2023, EUR/USD
Technical observation
USD is trading with an increasing bearish bias between the supportive level 127.21 and a resistance level 135.05-134.70, I expect either a surge to the upper side or a loss of this upwards movement followed by a decline to the level 127.21. In case of a rise to the zone 135.05-134.70, sell a bounce within it with your take profit at 127.21 and stop-loss at 136.25, and should there be a decline to the level 127.21, wait for a clear break below it followed by a pullback to it before you pick short positions. As it is on the daily chart above, I can only recommend bullish positions above the zone 135.05-134.70.
Trade recommendation
Remain flat.
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