Wait | 21 June 2021

Technical observation

On the chart above, price broke below a supportive level 1.1994 with a big red candle then declined up to the key supportive level 1.1835, right now it is trading with an increasing bearish bias above the level 1.1835 however, I expect a loss of this downwards movement followed by a retracement to the resistance line 1.1994 to sell this pair. My advice, remain flat and wait for a correction to the line 1.1994 and a rejection at it to sell EUR with your take profit at 1.1835 and stop loss at 1.2035. On the 4 hour chart above, as long as price is contained below the resistance level 1.1994, I can only recommend short positions for EUR.

Trade recommendation

Remain flat.