Pick long positions within 1.0928 | 02 June 2022

Technical observation

EUR retraced to the supportive zone it established at 1.0657-1.0641 but could not break below it, instead, it bounced within the same zone and for the past hour price has been trading with an increasing bullish bias. I expect a continuation of this upwards movement towards the resistance level 1.0928 followed by a either a clear break above it or a bounce at it. If you picked long positions within the zone I have indicated above after a bounce, remain in the trade with your take profit at 1.0928 and stop-loss at 1.0531. I can only recommend bearish positions in case of a clear penetration below the zone 1.0657-1.0641.

Trade recommendation

Remain long with your take profit at 1.0928.