13 April 2022, EUR/USD
Technical observation
On the 4 hour chart above price declined to the supportive level 1.0804 and it is currently trading with an increasing bullish bias. I expect a continuation of this upwards movement to the resistance zone it established at 1.1138-1.1128 followed by a bounce within it to re-sell EUR with my take profit at 1.0804 and stop loss at 1.1232. As long as price is sustained below the zone mentioned above, I expect bearish movements of price; however, in case of a clear break above the same zone, I expect a surge to the upper side after a correction to it. Right now remaining neutral with the pair above is ideal than picking any positions.
Trade recommendation
Remain neutral.
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