Remain short with your take profit at 1.0694 | 19 April 2022

Technical Observation

On the weekly chart above price has been trading with an increasing bearish bias for the past several weeks and currently it is rallying above a supportive level 1.0694. I expect either a loss of this downwards at the level mentioned above a clear breakout below it with a big green candle. If you are currently holding short positions with the pair above, I would advise that you remain in the trade with your take profit at 1.0694. In case of a break below the level 1.0694, wait for a pullback to it before you continue short with this pair. I can only recommend long positions in case of a clear penetration above the zone 1.1541-1.1495.

Trade recommendation

Remain short with your take profit at 1.0694.