Buy a bounce within 1.1984-1.1965 | 23 April 2021

Technical observation

EUR is trading with an increasing bearish momentum above a supportive zone 1.1984-1.1965, this bearish movement is a second retracement to the zone mentioned above and I expect a loss of it within the same zone for an increase towards the resistance level 1.2341. In case EUR does not bounce within the zone 1.1984-1.1965 but instead penetrates below it with a big red candle, I expect bearish movements of price towards the supportive level 1.1624 after a rebound to the just broken zone. However, as long as it is contained above the zone 1.1984-1.1965, you can only anticipate bullish movements of price.

Trade recommendation

Buy a bounce within 1.1984-1.1965 with your take profit at 1.2341.