16 February 2021, EUR/USD
Technical observation
EUR is trading below a resistance zone 1.2182-1.2174 with an increasing bearish bias. This bearish movement is a correction to the line 1.2050 and expect a loss of it at the same line for a possible rally to the upper side. My advice, remain flat and wait for a correction to the line 1.2050 and a bounce at it to buy EUR with your take profit at 1.2174 and stop loss at 1.2002. In case of a break above 1.2182-1.2174, wait for a correction to zone and a bounce at it to continue long with this pair towards the resistance line 1.2307. For the chart above, I can only recommend picking long positions
Trade recommendation
Remain neutral.
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