Wait | 22 April 2022

Technical observation

On the weekly chart above price opened bullish at the beginning of the week and I expect it to close green. I also anticipate a continuation of this upwards movement to the resistance zone 1.1541-1.1495 followed by a rejection within it to re-sell EUR with my take profit still at 1.0702 and stop loss at 1.1759. However, In case price is not sustained below the zone I mentioned above but clearly breaks above it with a big green candle, wait for a correction to the broken zone and rejection within it before you pick long positions towards 1.2257. As long as EUR is sustained below the zone 1.1541-1.1495, I can only recommend short positions.

Trade recommendation

Remain neutral.