Wait | 20 July 2021

Technical observation

On the chart above, price is trading with an increasing bearish bias between a key level 1.1637 and a resistance zone 1.1983-1.1963, my expectation is either a decline to the level I have mentioned above or a loss of this downwards movement followed by a correction to the zone 1.1983-1.1963. In case of a decline to 1.1637, wait for either a bounce at it followed by a retracement to the zone 1.1983-1.1963 to sell EUR, or a clear breakout below it with a big red candle, followed by a correction to it to sell EUR with your take profit at 1.1174. However, in case of a correction to the zone 1.1983-1.1963, sell a bounce within it with your take profit at 1.1637.

Trade recommendation

Remain neutral.