27 August 2021, EUR/USD
Technical observation
Since the beginning of this week, EUR has been trading with an increasing bullish bias and I expect this week’s candle to close bullish. If you bought this pair at the supportive zone 1.1605-1.1571, remain in the trade with your take profit at 1.2248 and stop loss at 1.1388. In case of a clear breakout above the resistance level 1.2248 with a big green candle, I expect a further rally to the upper side after a correction to the broken line, on the flip side, if price penetrates below the supportive zone 1.1605-1.1571 with a big red candle, I anticipate a surge to the lower supportive level 1.0826 after a pullback to the broken zone.
Trade recommendation
Remain long with your take profit at 1.2248.
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