Remain neutral. | 17 November 2022

Technical observation

EUR rose above the resistance zone 1.0373-1.0325 with a big green candle and it is currently trading just above it with an increasing bearish bias. This downwards movement is a pullback to the zone mentioned above and should it bounce within this zone, I expect a possible rally to the upper side towards the resistance level 1.1123, however, if price is not sustained above this zone but clearly breaks below it with a big red candle, wait for a correction to the broken zone then sell a bounce within it with your take profit at 0.9596 and stop-loss at 1.0617. I can only recommend bullish positions above zone 1.0373-1.0325.

Trade recommendation

Remain flat.