Remain flat | 20 February 2023

Technical observation

On the chart above price is trading with an increasing bullish bias slightly above the supportive zone 1.1774-1.1741 and I expect a loss of this upwards movement followed by a pullback to the zone I have mentioned above, my advice is, remain neutral and wait for a pullback to the zone indicated above then buy a bounce within it with your take profit at 1.2424 and stop-loss at 1.1590. If there is a clear break above the level 1.2424, continue long with this pair after a pullback and a rejection at the broken line, however, should there be a clear break below the zone 1.1774-1.1741, you can expect a possible surge towards the supportive levels 1.1050 and 1.0363.

Trade recommendation

Remain flat.