Wait | 28 April 2022

Technical observation

On the chart above, yesterday price declined up to a supportive level 1.0514 but it did not break below it, currently the value of this pair is trading with an increasing bearish bias above the same line however, I expect a loss of this downwards movement followed by a correction to the resistance level 1.0768 to pick short positions. My advice, remain flat and wait for a pullback to the line 1.0768 then pick short positions at it with your take profit at 1.0514 and stop loss at 1.0852. Should there be a clear breakout below the line 1.0514, I expect this pair to plummet further after a retracement to the broken line.

Trade recommendation

Remain flat.