18 November 2022, EUR/USD
Technical observation
EUR rose above the zone it established at 1.0286-1.0270 then pulled back to it twice and both times it was sustained above it, currently price is trading with an increasing bullish bias and I expect as long as it remains above the zone I mentioned earlier, I expect a further rally to the upper side. My advice, if you are currently holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 1.0639 and stop-loss at 1.0165. In case of a clear break above the level 1.0639, you can expect the value of EUR to plummet further to the upper side after a correction and a bounce at the broken line.
Trade recommendation
Remain long with your take profit at 1.0639.
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