We are neutral. | 01 December 2022

Technical observation

On the chart above price rose above the resistance zone 1.0410-1.0367 and it is currently trading above it with an increasing bullish bias, however I expect a loss of this upwards movement followed by a correction to the just broken zone and possible rejection of price within it. My advice is remain neutral and wait for a second pullback to the zone I have mentioned above then buy a bounce within it with your take profit at 1.1123 and stop-loss at 1.0647. If there is a clear beak above 1.1123, you can expect the value of this pair to surge further to the upper side to the level 1.1679.as long as price remains above zone 1.0410-1.0367; I can only recommend bullish positions.

Trade recommendation

Remain neutral.