Wait | 04 April 2022

Technical observation

Last week the value of the pair above rose with a big green candle and this week I anticipate a further momentum to the upper side. This anticipated bullish movement is a correction to the resistance zone 1.1429-1.1461 and I expect a rise to the zone followed by a rejection within it to re-sell EUR with my take profit at 1.0697 and stop loss at 1.1694. As long as price is sustained below the zone mentioned above I can only recommend short positions for the pair above, however, in case of a clear break above the same zone with a big green candle, I expect a momentum to the resistance level 1.2252. Right now I would recommend that you remain flat with EUR.

Trade recommendation

Remain flat.