Expecting a surge to the level 114.29. | 09 December 2021

Technical observation

USD is trading with an increasing bullish bias between the supportive zone 112.74-112.82 and a resistance zone 114.40-114.29 , my expectation is a continuation of this upwards movement to the zone 114.40-114.29 followed by a bounce within it or a clear breakout above the same zone with a big green candle. If you are currently long with this pair, remain in the trade and pick your profits at the level 114.29, should there be a clear break above the zone 114.40-114.29 with a big green candle, you can anticipate further bullish movements towards the level 115.51, but if price penetrates below the zone 112.74-112.82, expect bearish movements towards the level 110.85.

Trade recommendation

Remain long with your take profit at 114.29.