15 December 2021, EUR/USD
Technical observation
On the hourly chart above, price declined and broke below a supportive zone 1.1260-1.1263 with big red candle, it is still trading with an increasing bearish bias below the just broken zone however, despite this movement to the lower side, I expect a pullback to the zone I have mentioned above followed by a bounce within it to pick short positions with my take profit at 1.1192 and stop loss at 1.1283. As long as EUR remains below the resistance zone 1.1260-1.1263, I can only recommend bearish positions for this pair. In case of a clear breakout below the level 1.1192 with a big red candle, I expect EUR to plummet further.
Trade recommendation
Remain neutral.
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