08 December 2021, EUR/USD
Technical observation
EUR retraced to the supportive zone it established at 1.1226-1.1234 but could not break below it instead, price bounced within the zone and is currently trading with an increasing bullish bias. I expect a continuation of this bullish movement to the zone I have mentioned above followed by possible breakout above it with a big green candle and a further momentum to the upper side. If you bought EUR within the above mentioned zone, remain long with your take profit at 1.1369 and stop loss at 1.1184. In case of a clear breakout above the level 1.1377 with a big green candle, continue long with this pair towards 1.1485.
Trade recommendation
Remain long with your take profit at 1.1369.
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