Looking to buy within 1.3522-1.3510 | 24 February 2022

Technical observation

On the 4 hour chart above, the price is retracing to the supportive zone is established at 1.3522-1.3510 and I expect a rejection of it within the same zone followed by a surge to the upper side. My advice, remain flat temporarily and pick long positions within the zone 1.3522-1.3510 after a bounce with your take profit at 1.3641 and stop-loss at 1.3474. In case of a clear breakout above the resistance level 1.3641 with a big green candle, I expect further momentum to the upper side after a retracement to the broken line. On the other hand, if the price breaks below the zone 1.3522-1.3510 with a big red candle, I expect it to plummet towards level 1.3371.

Trade recommendation

Remain neutral temporarily.