Wait | 27 April 2023

Technical observation

On the chart above, the price rose to the resistance level 1.1068 and it is still trading at the same level with an increasing bullish bias, I expect a loss of this upwards movement at the same level followed by a surge to the lower side. The anticipated bearish movement is a correction to the supportive 1.0789-1.0801 and I expect a rejection within it, my advice, remain flat and wait for a correction to the zone I have mentioned above then buy a bounce within it with your take profit at 1.1068 and stop-loss at 1.0713. In case of a break above the level 1.1068, I expect the price to ascend further after a correction to the broken line.

Trade recommendation

Remain flat.