Remain long | 12 May 2023

Technical observation

USD retraced to the supportive zone it established at 133.83-133.82 then bounced within it and since then it has been trading with an increasing bullish bias. As long as the price is sustained above the zone I have mentioned above, I expect a further surge to the upper side and in case you are already holding bullish positions with this pair, I recommend you remain in the trade and pick your profits at the level 138.12 with your stop-loss at 132.72. In case of a break above the resistance level 138.12 with a big green candle, continue long with this pair towards the key level 142.29 or higher.

Trade recommendation

Remain long with your take profit at 138.12.