Wait | 16 February 2022
16 February 2022, EUR/USD
Technical observation
On the weekly chart above, price has been trading with an increasing bullish bias despite the bearish movement I anticipated last week, in case the value of this pair rises to the resistance zone 1.1461-1.1429 this week, if you are currently neutral with this pair you can pick long positions within the same zone after a bounce with your take profit at 1.0697 and stop loss at 1.1694. In case price is not sustained below the zone I have mentioned above but clearly breaks above it with a big green candle, wait for a correction to the broken zone then buy a bounce within it with your take profit at the resistance level 1.2252.
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.
