Sell a bounce within the zone 1.0832-1.0891 | 31 March 2023

Technical observation

EUR is trading with an increasing bullish bias within the resistance zone 1.0832-1.0891 and I expect either a loss of this upwards movement within the same zone or a clear break above it with a big green candle. In case of a bounce within the zone indicated above, pick short positions within the same zone with your take profit at 0.9532 and stop-loss at 1.1261. If there is a clear break below the level 0.9532, I expect the price to decline further to the lower side; on the other hand, in case of a penetration above the zone 1.0832-1.0891, I anticipate bullish movements towards the resistance level 1.2564 or even higher to 1.5013.

Trade recommendation

Sell a bounce within the zone 1.0832-1.0891 with your take profit at 0.9532.