Expecting a surge to 1.0942. | 22 December 2022

Technical observation

EUR rose above the level 1.0591 and for several days it has been stagnating above this level, as long as price is sustained above the same level, I expect it to rally to the upper side and in case you picked bullish positions at the level 1.0591 after a bounce my advice is, remain long with your take profit at 1.0942 and stop-loss at 1.0457. Should there be a clear break above the level 1.0942, I expect this pair to surge further to the upper side; on the other hand, in case of a clear break below the level 1.0591, I expect bearish positions towards the supportive levels 1.0199-1.0219, 0.9857 and the lower level 0.9539.

Trade recommendation

Remain long with your take profit at 1.0942.