Still bearish towrads 1.2099 | 02 June 2022

Technical observation

Yesterday the value of the pair on the chart above went down as I had predicted and as long as price is sustained below the resistance zone 1.2591-1.2635, I expect a continuation of this downwards movement towards the supportive level 1.2099. If you are currently holding bearish positions with the pair above, remain in the trade with your take profit at 1.2099 and stop-loss at 1.2841. In case of a clear break above the zone 1.2591-1.2635, I expect price to ascend towards the resistance level 1.3264 or even higher towards the key level 1.3869. Continue short towards 1.1436 after a clear penetration below the level 1.2099.

Trade recommendation

Remain short with your take profit at 1.2099.