17 February 2022, EUR/USD
Technical observation
On the daily chart above price is trading with an increasing bullish bias below a resistance zone it established at 1.1483-1.1461, I expect a continuation of this upwards movement to the zone I have mentioned above followed by a rejection within to pick short positions with my take profit at 1.1120 and stop loss at 1.1592. On the chart above as long as price remains below the resistance zone 1.1483-1.1461 I can only recommend short positions for this pair. In case of a clear breakout above the same zone with a big green candle, you can anticipate a possible surge to the resistance level 1.1682 after a retracement to the broken zone.
Trade recommendation
Wait for a correction to the zone 1.1483-1.1461 to sell EUR.
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