26 August 2021, EUR/USD
Technical observation
EUR penetrated above a resistance zone 1.1758-1.1752 and it is currently trading with an increasing bearish a bias above the just broken zone, This bearish movement is a retracement to the broken zone and I expect a loss of it within the same zone for a rally to the upper side. Remain neutral with this pair and pick long positions on a second retracement to the zone 1.1758-1.1752 with your take profit at 1.1877 and stop loss at 1.1726. In case price is not contained above the zone I have mentioned above and instead it breaks below it with a big red candle, then wait for a pullback to the same zone and a sell a bounce within it towards 1.1668.
Trade recommendation
Remain neutral.
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