Expecting a momentum towards 1.2265 | 10 June 2021

Technical observation

On the chart above, price retraced to a supportive zone it has established at 1.2172-1.2161, it was sustained above this zone and as long as it stays above it, you can only anticipate a momentum to the upper side. If you bought EUR within the zone I have mentioned above after a bounce, remain long with your take profit at 1.2265 and stop loss at 1.2110. In case of a clear breakout below the zone 1.2171-1.2161 with a big red candle, wait for a correction to the just broken zone and a rejection within it confirming possible bearish movements of price before you sell EUR with your take profit at 1.1992 and stop loss at 1.2207.

Trade recommendation

Remain long with your take profit at 1.2265.