23 February 2021, EUR/USD
Technical observation
EUR is trading with an increasing bullish bias between a supportive zone 1.1964-1.1938, my expectation is a rise to the key level 1.2328 followed by either a bounce a it for a correction to the zone mentioned above, or a clear breakout above it with a big green candle. My advice, if you are currently long with this pair, remain in the trade with your take profit at 1.2328 and stop loss at 1.1740. In case there is a clear breakout below the supportive zone 1.1964-1.1938 with a big red candle, I anticipate the value of this pair to plummet to the lower side towards the supportive level 1.1456.
Trade recommendation
Remain long with your take profit at 1.2328.
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