18 February 2021, EUR/USD
Technical observation
EUR declined and penetrated below a supportive level 1.2052 with a big red candle and is now trading below the same line with an increasing bullish bias. I expect a loss of this upwards movement at the line mentioned above for a possible momentum to the lower side. My advice, remain neutral temporarily and wait for a correction to the line 1.2052 and a rejection at it to sell EUR with your take profit at 1.1898 and stop loss at 1.2090. In case of a clear penetration below the line 1.1898 with a big red candle, you can anticipate a further momentum to the lower side after a correction to the just broken line.
Trade recommendation
Remain flat temporarily.
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