Expecting a rally to 1.0936 | 06 June 2022

Technical observation

On the 4 hour chart above price is trading with an increasing bullish bias above the supportive zone 1.0628-1.0639 and I expect a continuation of this upwards movement towards the resistance level 1.0936 followed by either a clear break above it with a big green candle, or a bounce at it followed by another correction to the zone mentioned above. If you are currently holding bullish positions with the pair above, remain long with your take profit at 1.0936 and stop-loss 1.0548. In case of a break above the level 1.0936, wait for a correction to it before you continue long towards the upper resistance level 1.1175 or even higher to 1.1549.

Trade recommendation

Remain long with your take profit at 1.0936.