Wait | 15 November 2021

Technical observation

On the daily chart above, price is trading with an increasing bearish bias above the supportive level 1.1432; my expectation is either a clear breakout below the line with a big red candle, or a loss of this bearish followed by a correction to the resistance level 1.1621. If you picked short positions at the line 1.1621, pick your profits now at the level 1.1432. However, if you are currently neutral with this pair, remain so and wait for either a retracement to the key level 1.1621, or a clear breakout below the line 1.1432 and a pullback to it to pick short positions. As it is on the chart above, I can only recommend long positions above the level 1.1621.

Trade recommendation

Remain neutral.