We're long towards 1.2248 | 25 August 2021

Technical observation

EUR did not decline to the supportive zone 1.1605-1.1571 as I had predicted, instead it bounced above the zone and is currently trading with an increasing bullish bias, and however there is a still a possibility of bearish movements to the zone I have mentioned above. If you are currently long with this pair, remain so with your take profit at 1.2248 and stop loss at 1.1388. In case price penetrates above the key level 1.2248 with a big green candle, I expect a further rally to the upper side. Should there be a clear breakout below the zone I have mentioned above with a big red candle, I expect a momentum to the lower side to the level 1.0826.

Trade recommendation

Remain long with your take profit at 1.2248.