we are bearish towards 1.0359. | 22 June 2022

Technical observation

EUR retraced to the resistance zone it established at 1.0583-1.0595, but did not break above it, instead it bounced within the zone and since then it has been trading with an increasing bearish bias, I expect a continuation of this bearish movement to the supportive level 1.0359 followed by either a clear break below it or a bounce at it followed by another correction to the zone I have mentioned above. If you are currently holding short position with the pair above, remain in the trade with your take profit at 1.0359 and stop-loss at 1.0654. On the 4 hour chart above I can only recommend bullish positions in case of a break above the zone 1.0583-1.0595.

Trade recommendation

Remain short with your take profit at 1.0359.