Wait | 23 June 2021
23 June 2021, EUR/USD
Technical observation
EUR is trading between a supportive zone 1.1605-1.1571 and a resistance level 1.2248 with an increasing bullish bias. I expect a decline to the zone I have mentioned above followed by a rejection within it to re-buy EUR however, you can still anticipate a rise to the key level 1.2248 followed by a clear breakout above it with a big green candle. In case of a decline to the supportive zone I have mentioned above, pick long positions within it after a bounce with your take profit at 1.2248 and stop loss at 1.1396 and in case there is no rally to the zone but a clear break above 1.2248, wait for correction to it before you buy EUR.
Trade recommendation
Remain neutral.
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.
