Wait for a pullback to the zone 1.1541-1.1495 | 25 May 2022

Technical observation

Last week the value of EUR and this week it is also trading with an increasing bullish bias. This upwards movement is a correction to the resistance zone 1.1541-1.1495 and I expect a rise to the same zone followed by a bounce within it to pick short positions with my take profit at 1.0405 and stop-loss at 1.1877. As long as the value of the pair on the chart above is sustained below the zone I mentioned above, I can only recommend bearish positions for EUR, however, in case of a clear break above the same zone with a big green candle, you can anticipate possible movements of price towards the key level 1.2540 after a correction to the broken zone.

Trade recommendation

Wait for a correction to the zone 1.1541-1.1495 to sell EUR.