Remain neutral temporarily. | 30 March 2023

Technical observation

On the daily chart above, EUR is trading with an increasing bullish bias below the resistance zone it established at 1.0908-1.0863 and I expect a possible rejection within the same zone followed by a momentum to the lower side. My advice, remain neutral temporarily and sell a bounce within the zone indicated above with your take profit at the key level 1.0240 and stop-loss at 1.1162. In case of a clear break below the line 1.0240 with a big red candle, wait for a pullback to the broken line and a rejection at it before you continue short with this pair towards the lower supportive level 0.9533 or lower.

Trade recommendation

Remain neutral temporarily.