Wait | 26 March 2021

Technical observation

EUR is declining steadily towards the supportive zone 1.1642-1.1588, I expect a loss of this bearish movement within the zone for momentum to the upper side. My advice, wait for a correction to the zone mentioned above and a rejection within it to buy EUR with your take profit at 1.2252 and stop loss at 1.1307. In case of a clear penetration above the line 1.2252 with a big green candle, I anticipate a further surge of price to the upper side towards the key level 1.2909. On the weekly chart above, as long as price is contained above the zone 1.1642-1.1588, I can only recommend long positions for this pair.

Trade recommendation

Wait for a correction to the zone 1.1642-1.1588 to buy EUR.