We're flat | 15 June 2021

Technical observation

On the hourly chart above, price is trading with an increasing bullish bias between a supportive level 1.2095 and a resistance zone 1.2166-1.2163, this bullish movement is a retracement to the zone I have mentioned above and i expect a loss of it within the same zone for a rally to the lower side. My advice, remain neutral and wait for a correction to the zone 1.2166-1.2163 and a rejection within it to sell EUR with your take profit at 1.2095 and stop loss at 1.2183. In case of a clear breakout below the level 1.2095 with a big red candle, I expect the value of this pair to plummet further to the lower side towards the supportive level 1.1994.

Trade recommendation

Remain neutral.