Expect a momentum towards 109.95 | 29 April 2021

Technical observation

USD broke above the zone 108.43-108.35, it then retraced to the same zone but it was contained above it. Right now price is trading with an increasing bullish bias and I expect this upwards movement to continue to the resistance line 109.95 followed by either a clear breakout above it with a big green candle. If you picked long positions within the zone after a bounce, remain in the trade with your take profit at 109.95. In case you did not buy USD within the zone 108.43-108.35, wait for a second retracement to the zone to pick long positions. As long as price is contained above 108.43-108.35, I can only recommend long positions.

Trade recommendation

Remain long with your take profit at 109.95.