Wait | 30 April 2021

Technical observation

EUR is trading with an increasing bearish bias above a supportive level 1.2111, this bearish movement is a correction to the line mentioned above and I expect a loss of it at the same level for a momentum to the upper side. My advice, buy a bounce at the level 1.2111 with your take profit at 1.2242 and stop loss at 1.2056. In case of a clear breakout below 1.2111 with a big red candle, expect a surge to the lower side after a correction to the just broken line and a rejection at it but as long as EUR is contained above the line 1.2111, you can only anticipate a rally to the upper side. If price breaks above 1.2242, expect further upwards movements.

Trade recommendation

Wait for a bounce at 1.2111 to buy EUR.