Wait for a correction | 29 March 2021

Technical observation

EUR has been declining steadily towards the supportive zone 1.1642-1.1588; I expect a loss of this bearish rally within the same zone for a surge to the upper side. My advice, remain neutral temporarily and wait for a correction to 1.1642-1.1588 to buy EUR with your take profit at 1.2252 and stop loss at 1.1409. In case of a clear break above the line 1.2252 with a big green candle, wait for a correction to the just broken line confirming further bullish movements of price before you continue long with this pair towards the key level 1.2909. I can only recommend short positions below the supportive zone 1.1642-1.1588.

Trade recommendation

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