24 April 2023, EUR/USD
Technical observation
EUR bounced at the level 1.1077 and it is currently trading with an increasing bearish bias, I expect a continuation of this downwards movement to the supportive zone 1.0801-1.0704 followed by a possible rejection of price within it. My advice, remain neutral and wait for a pullback to the zone I have mentioned above then buy a bounce within it with your take profit at 1.1077 and stop-loss at 1.0703. If there is a clear break above the level 1.1077, wait for a correction to it before you continue long with this pair. As it is on the chart above, as long as the value of EUR is sustained above the zone 1.0801-1.0704, I can only recommend bullish positions.
Trade recommendation
Remain flat.
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