We are short at 1.1120 | 18 March 2022

Technical observation

Yesterday the value of the pair on the daily chart above rose up to the resistance level 1.1120 as I had anticipated but it could not break above the line and as long as price remains below the same line, I expect a surge to the supportive level 1.0768. My advice, pick short positions now at 1.1120 with your take profit at 1.0768 and stop-loss at 1.1273. In case of a clear breakout below the level 1.0768 with a big red candle, I anticipate a further momentum of price after a correction to the broken line; on the other hand if price breaks above the line 1.1120, I expect it to ascend towards the resistance zone 1.1483-1.1461.

Trade recommendation

Sell EUR now at 1.1120 with your take profit at 1.0768