12 August 2022, EUR/USD
Technical observation
This week the value of the pair on the weekly chart above opened bullish and since then it has been trading with an increasing bullish bias and I expect it to close the same. Next week I expect a further surge to the upper side towards the resistance zone 1.0742-1.0696 and I would recommend that you remain neutral and wait for a correction to this zone to pick short positions with your take profit at 0.9955. If price clearly breaks below the level 0.9955 a surge to the lower side is expected after a correction to the broken line, on the other hand, I can only recommend picking bullish positions in case of a clear break above the zone 1.0742-1.0696.
Trade recommendation
Remain neutral.
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