We are neutral. | 19 July 2022

Technical observation

EUR is trading with an increasing bullish bias above a supportive level 1.0015, this upwards movement is a correction to the resistance zone it established at 1.0781-1.0741 and I expect a rejection within it to pick short positions with my take profit at 1.0015 and stop-loss at 1.0983. If price clearly penetrates below the level 1.0015 with a big red candle, continue short with the pair above after a correction to the broken line, however, in case of a clear break above the zone 1.0781-1.0741, I anticipate possible bullish movements of price towards the resistance level 1.1456 or even higher to the levels 1.1940 and 1.2346.

Trade recommendation

Wait for a correction to the zone 1.0781-1.0741 to sell EUR.