17 June 2021, EUR/USD
Technical observation
On the 4 hour chart above, price is trading with an increasing bearish bias below a trend line as indicated above, this bearish movement is a retracement to the lower line on the chart above and in case of a bounce at it I expect a momentum to the upper side, however, if price break below the line, I anticipate a surge to the lower side after a correction to the just broken line. As it is on the chart above, remaining neutral is ideal than picking any positions. If price break above the upper trend line as indicated above, there is a possibility of further bullish movements of price after a retracement to the just broken line and a rejection at it.
Trade recommendation
Remain neutral.
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