We are flat | 21 April 2022

Technical observation

On the 4 hour chart above price has been trading with an increasing bullish bias and I expect a continuation of this upwards movement to the resistance zone 1.0942-1.0928 followed by a rejection within it to re-sell EUR towards 1.0756. My advice, remain flat and wait for a correction to the zone I have mentioned above to pick short positions with your take profit at 1.0756 and stop loss at 1.1022. Should there be a clear breakout below the level 1.0756 with a big red candle; a further surge to the lower side is expected after a retracement to the broken line. I can only recommend bullish positions above the zone 1.0942-1.0928.

Trade recommendation

Remain flat.