Expecting a pullback to the zone 1.0832-1.0740 | 27 January 2023

Technical observation

On the weekly chart above price is trading with an increasing bullish bias above the supportive zone 1.0832-1.0740 and this week I expect it to close bullish. Despite this upwards movement, I also anticipate a correction to the zone I have mentioned above followed by a rejection or price within it, and my advice is, remain neutral with EUR and wait for a correction to the zone I have indicated above then buy a bounce within it with your take profit at 1.2258 and stop-loss at 1.0443. In case of a clear break above the level 1.2258 with a big green candle, I expect the price to ascend further towards the key levels 1.5013.

Trade recommendation

Wait for a pullback to the zone 1.0832-1.0740 to buy EUR.