Sell EUR within 1.0244-1.0230 | 20 July 2022

Technical observation

On the 4 hour chart above price is trading with an increasing bullish bias between the resistance zone 1.0244-1.0230 and my expectation is a loss of this upward movement followed by a possible surge in price. My advice, sell a bounce within the zone I have indicated above with your take profit at 1.0991 and stop-loss at 1.0349. If price clearly penetrates below the level 10991 with a big red candle I expect it to descend further after a correction to the broken line and a bounce at it. I can only recommend bullish positions should there be a clear break above the resistance zone I mentioned earlier followed by a correction to it.

Trade recommendation

Sell EUR within 1.0244-1.0230 with your take profit at 1.0991.