We are neutral | 22 June 2023

Technical observation

On the chart above the price is trading with an increasing bullish bias slightly below the resistance zone 1.1053-1.0994 and I expect a rise to the same zone followed by a rejection within it. My advice, remain neutral and wait for a correction and a rejection within the zone indicated above to sell EUR with your take profit at 0.9532 and stop-loss at 1.1395. If there is a clear break below the level 0.9532 with a big red candle, wait for a correction and a rejection at it before you continue short, on the other hand, I expect possible upwards movement of price in case of a clear penetration above the zone 1.1053-1.0994.

Trade recommendation

Remain neutral.