We're short within 105.28-105.26 | 15 October 2020

Technical observation

USD rose to the resistance zone 105.28-105.26 and is still trading within it with an increasing bullish bias. I expect a loss of this upwards movement within the same zone for a momentum to the lower side towards 104.93. My advice, sell USD within the zone 105.28-105.26 with your take profit at 104.93 and stop loss at 105.36. In case there is no rejection within 105.28-105.26 but a clear breakout above it with a big green candle wait for a correction to the just broken zone and a bounce within it confirming bullish movements of price before you pick long positions towards the resistance line 105.51.

Trade recommendation

Sell USD within 105.28-105.26 with your take profit at 104.93.