Buy abreak above 1.22481 or wait and sell a rejection from 1.22481 to pick a sell towards 1.19201. | 01 June 2021
01 June 2021, EUR/USD
Technical Observation
On the weekly chart attached, Euro is currently approaching a significant weekly resistance zone 1.22481-1.22218. As long as the price remains below this zone, this remains to be a good place to consider a possible long term sell position. Ideally, we want to see a breakout above 1.22481 to pick a possible long term buy position expecting the price to extend much higher with the next ideal target set at 1.24160. A rebound from 1.22481 will attract a sell towards 1.19201.
Trade Recommendations:
Buy a break above 1.22481 or wait and sell a rejection from 1.22481 to pick a sell towards 1.19201.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
