18 May 2021, EUR/USD
Technical observation
EUR rallied upwards and is currently trading with an increasing bullish bias below a resistance level 1.2181; I expect a clear breakout above the same level with a big green candle for a further momentum to the upper side. If you are currently long with this pair, remain so and pick your profits at the level 1.2181, however, If you are neutral with this pair, remain so and wait for a clear breakout above the line 1.2181 and a correction to it to buy EUR with your take profit at 1.2348 and stop loss at 1.2124. As it is on the 4 hour chart above, as long as price is contained above the zone 1.1993-1.2002, I can only recommend bullish positions for this pair.
Trade recommendation
Remain neutral.
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