pick your profits at 1.2248 | 28 April 2021

Technical observation

Last week EUR closed bullish below a resistance level 1.2248, I expect a continuation of this upwards movement to the level mentioned above followed by a possible penetration above it with a big green candle, or a bounce at it followed by a another pullback to the supportive zone 1.1596-1.1550. If you are currently long with this pair, pick your profits at the line 1.2248, however, if you are neutral, remain so and wait for either another retracement to the zone mentioned above, or a clear penetration above the line 1.2248 to buy this pair. As long a price is contained above the zone 1.1596-1.1550, I can only recommend bullish positions.

Trade recommendation

Remain long and pick your profits at 1.2248.