04 January 2021, EUR/USD
Technical observation
EUR is trading with an increasing bullish bias below a resistance line 1.2286, I expect either a clear breakout above the line with a big green candle, or a bounce at it followed by a correction to the supportive zone 1.1830-1.1778. My advice, if you bought this pair within the zone mentioned above after a bounce, remain long and pick your profits at 1.2286. In case of a break above the line 1.2286, wait for a retracement to it before you continue long with this pair towards the key line 1.2872. As it is on the chart above, as long as EUR is contained above 1.1830-1.1778only bullish positions look ideal and can be recommended.
Trade recommendations
Remain long with your take profit at 1.2286.
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