Pick bullish positions within the zone 1.1752-1.1690 | 08 March 2023

Technical observation

Just like EUR, the pair on the chart above is trading with an increasing bearish bias slightly above the zone it established at 1.1752-1.1690, I expect a possible bounce within the zone I mentioned above followed by a momentum to the upper side, and my advice is, remain neutral and wait for a pullback to the zone 1.1752-1.1690 then buy a bounce within it with your take profit at 1.2650 and stop-loss at 1.1319. In case of a break above the level 1.2650 with a big green candle, wait for a correction to the broken line and a bounce at it before you continue long towards the resistance levels 1.3610 and 1.4376.

Trade recommendation

Pick bullish positions within the zone 1.1752-1.1690 with your take profit at 1.2650 and stop-loss at 1.1319.