Expecting a momentum to 1.0697. | 29 March 2022

Technical observation

Last week the value of EUR declined and yesterday price opened bearish and it could continue downwards throughout the week. If you are currently holding short positions with the pair above, remain in the trade with your take profit at 1.0697 and stop-loss at 1.1690. In case of a clear break below the supportive level 1.0797 with a big red candle, a further surge to the lower side can be anticipated after a correction to the broken line however, should price rise and penetrate above the resistance zone 1.1461-1.1429 with a big green candle I expect a further rally to the upper side after a correction to the broken zone.

Trade recommendation

Remain short with your take profit at 1.0697.