22 November 2021, EUR/USD
Technical observation
For the past several days the value of the pair on the chart above has been trading with an increasing bearish bias. Recently, it penetrated below a supportive level 1.1380 then retraced to it with a big green candle but it did not break above it. As long as EUR remains below this zone, I expect a further rally to the lower side. My advice, remain neutral and wait for a second retracement to the level I have mentioned above then sell EUR at it after a bounce with your take profit at 1.0982 and stop loss at 1.1487. In case there is a clear breakout below the level 1.0982 with a big red candle, I expect a further momentum to the lower side.
Trade recommendation
Remain neutral.
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