Remain long with your take profit at 1.2248 | 10 November 2021

Technical observation

On the weekly chart above, price retraced to a supportive zone 1.1558-1.1520 as anticipated and it did not break below it. As long as EUR trades above this zone, I can only recommend bullish positions for this pair. If you picked long positions within the zone 1.1558-1.1520 after a bounce, remain long with your take profit at 1.2248 and stop loss at 1.1298. Should there be a clear breakout above the level 1.2248 with a big green candle, I expect a further rise to the upper side; on the other hand, in case there is a clear breakout below the zone I have mentioned above with a big red candle, I expect a surge to the lower supportive level 1.0826.

Trade recommendation

Remain long with your take profit at 1.2248.