01 September 2021, EUR/USD
Technical observation
On the weekly chart above price is trading with an increasing bullish bias above a supportive zone 1.1605-1.1571, I expect a continuation of this upwards movement to the resistance level 1.2248 followed by a either a clear breakout above it with a big green candle or a rejection at it followed by another correction to the supportive zone I have mentioned above. If you picked long positions last week and you are currently long with this pair, remain in the trade with your take profit at 1.2248 and stop loss at 1.1379. On the chart above as long as price is contained above the zone 1.1605-1.1571 I can only recommend bullish positions for this pair.
Trade recommendation
Remain long with your take profit at 1.2248.
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