We're flat | 27 April 2021

Technical observation

EUR is trading with an increasing bearish bias above a supportive zone it established at 1.1984-1.1965, I expect this bearish movement to continue to the zone mentioned above and incase it is contained above it, I anticipate bullish movements of price towards the resistance level 1.2341, however, should there be a clear penetration below the same zone, I expect a momentum to the lower side. My advice, remain neutral with this pair and in case of a bounce within 1.1984-1.1965, pick long positions within it with your take profit at 1.2341 and stop loss at 1.1835 and in case of a break below the same zone , short EUR towards 1.1624.

Trade recommendation

Remain flat