22 March 2022, EUR/USD
Technical observation
On the 4 hour chart above price rose above the zone 1.1091-1.1079 but it was not sustained above it, instead it broke below the same zone then pulled back to it and for some time now it has been trading with an increasing bearish bias. As long as price is contained below the zone I have mentioned above I expect it to surge towards the supportive level 1.0844 followed by either a clear breakout below it with a big red candle, or a bounce at it followed by another correction to the zone 1.1091-1.1079. My advice, if you are currently holding short positions with the pair above , remain in the trade with your take profit at 1.0844 and stop loss at 1.1162.
Trade recommendation
Remain short with your take profit at 1.0844.
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