Wait | 14 April 2022

Technical observation

On the chart above price bounced at the supportive level 1.0804 and currently it is showing signs of a bullish momentum, the expected upwards movement is a correction to the resistance zone price established at 1.1138-1.1126 and I expect a rejection within it to re-sell EUR towards the supportive level 1.0804. My advice, remain flat and wait for a correction to the zone mentioned above to sell EUR with your take profit at 1.0804 and stop loss at 1.1220. In case of a clear break above the zone 1.1138-1.1126 with a big green candle, I expect a possible momentum towards the level 1.1383 after a correction to the broken zone.

Trade recommendation

Remain neutral.