Wait for a correction to the zone 1.1245-1.1236 to buy EUR | 03 February 2022
03 February 2022, EUR/USD
Technical observation
On the chart above, price broke above the zone 1.1245-1.1236 with a big green candle, it then retrace to it once and it was sustained above zone, as long as EUR remains above this zone, I can only recommend bullish positions for this pair. For now I would recommend that you remain neutral and wait for a second retracement to the zone mentioned above then pick long positions within it after a bounce with your take profit at 1.1387 and stop loss at 1.1194. Should there be a clear breakout above the line 1.1387 with a big green candle, I expect further upwards movements towards the resistance level 1.1512 or higher.
Trade recommendation
Remain neutral.
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.
