We're flat | 31 March 2021

Technical observation

USD is still trading with an increasing bullish bias between a supportive zone 104.66-104.97 and a resistance line 114.80. I expect either a rise to the resistance level followed by a clear breakout above it with a big green candle, or a decline to the zone mentioned above followed by either a bounce at it or a clear penetration below it with a big red candle. In case of breakout above 114.80, wait for a correction to it before you buy USD with your take profit at 121.34 and in case of break below 104.66-104.97, wait for correction to it before you sell USD. As it is on the chart above, as long as USD is contained above 104.66-104.97 I can only recommend long position,

Trade recommendation

Remain flat.