Remain flat. | 04 July 2022
04 July 2022, EUR/USD
Technical observation
On the chart above price is trading with an increasing bullish bias above the supportive level 1.0359, this upwards movement is a correction to the resistance zone 1.0598-1.0586 and I expect a rejection within it to pick short positions with my take profit at 1.0359 and stop loss at 1.0654. In case of a clear break below the level 1.0359, I expect a further surge to the lower side, on the other hand should there be a clear break above the zone 1.0598-1.0586 with a big green candle, I expect price to plummet towards the key level 1.0786 after a correction to the broken zone.
Trade recommendation
Remain neutral.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
