We're long towards 1.2252 | 13 April 2021

Technical observation

On the weekly chart above, EUR is trading with an increasing bullish bias above a supportive zone 1.1642-1.1588 and as long as price is contained above this zone, I expect a possible rally to the upper side. If you bought EUR previously after a bounce above the zone mentioned above, remain bullish with your take profit at 1.2252 and stop loss at 1.1452. In case of a clear breakout below the zone 1.1642-1.1588 with a big red candle, I expect a correction to the just broken zone followed by a bounce within it for a momentum to then lower side. However as it is on the hart above, I can only recommended bullish positions.

Trade recommendation

Remain bullish with your take profit at 1.2252.