Wait for a correction to the zone 1.0934-1.0894 | 09 June 2022

Technical observation

On the 4 hour chart above price is trading with an increasing bullish bias slightly below the resistance zone 1.0934-1.0894, this upwards movement is a correction to the zone I have mentioned above and I expect price to rise to the same zone followed by a rejection within it to pick long positions with my take profit at 1.0357 and stop-loss at 1.1189. Further bearish movements can be anticipated in case of a clear break below the level 1.0357, on the other hand if price clearly breaks above the zone 1.0934-1.0894, I expect a correction to it and a bounce followed by a momentum towards the resistance level 1.1381 or even higher to 1.1962.

Trade recommendation

Wait for a correction to the zone 1.0934-1.0894 to sell EUR.