25 March 2022, EUR/USD
Technical observation
On the daily chart above price pulled back to the resistance level 1.1120 but could not break above it and for several days now it had been trading with an increasing bearish bias. As long as the value of the pair above is sustained below the level I have mentioned above, i expect a continuation of this downwards movement to the supportive level 1.0768 followed by either a clear breakout below it with a big red candle or a rejection at it followed by another correction to the line 1.1120. If you are currently holding short positions with the pair above, remain in the trade with your take profit at 1.0768 and stop-loss at 1.1270.
Trade recommendation
Remain short with your take profit at 1.0768.
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