Wait | 12 March 2021

Technical observation

USD is trading with an increasing bullish bias below a resistance level 109.58, however, I expect a loss of this bullish movements followed by a retracement to the level 106.94. Remain flat and wait for a correction to the line 106.94 and a bounce at it to buy USD with your take profit at 109.58 and stop loss at 105.88. In case of a break above the line 109.58 with a big green candle, I expect further bullish movements of this pair towards the upper resistance level 112.12. As it is on the chart above, I can only recommend bullish position. Bearish movements can only be recommended below the zone 104.78-104.58.

Trade recommendation

Remain neutral.