Remain neutral | 02 February 2022
02 February 2022, EUR/USD
Technical observation
On the weekly chart above price has been trading with an increasing bullish bias despite my previous prediction of a rally to the lower side. This week, I expect a continuation of this upwards movement towards the resistance zone 1.1413-1.1375. If you are currently neutral with this pair, remain so and wait for a correction to the zone I have mentioned above then sell EUR within it with your take profit at 1.0697 and stop loss at 1.1619. As long as price is contained below the zone 1.1413-1.1375, I can only recommend bearish positions for this pair, bullish positions can only be recommended above the same zone.
Trade recommendation
Remain flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
