30 December 2022, EUR/USD
Technical observation
On the chart above, price is trading with an increasing bullish bias above the supportive zone 1.0410-1.0367 and as long as it is sustained above this zone, I expect a continuation of this upwards movement towards the key level 1.1123. My advice, remain flat and wait for a correction to the zone I mentioned earlier the buy a bounce within it with your take profit at 1.1123 and stop-loss at 1.0208. If there is a clear break above the level 1.1123 with a big green candle, I expect the value of this pair to surge further towards the upper resistance level 1.1679 or even higher to 1.2353. On the chart above, I can only recommend short positions below the zone 1.0410-1.0367.
Trade recommendation
Remain neutral.
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