01 May 2023, EUR/USD
Technical observation
On the chart above the price rose to the resistance level 1.1068 then bounced at it and it is currently trading with an increasing bearish bias, this downwards movement is a pullback to the supportive zone this pair established at 1.0789-1.0801 and i expect a possible rejection within it. My advice, remain flat and wait for a pullback to the zone indicated above then buy a bounce within it with your take profit at 1.1068 and stop-loss at 1.0713. In case of a break below the zone indicated above, wait for a correction and a rejection within it before you pick short positions towards the supportive level 1.0460 or lower.
Trade recommendation
Remain neutral.
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