Remain long | 06 July 2023

Technical observation

On The chart above the price pulled back to the supportive zone 1.0844-1.0835 but did not break below it, instead it bounced within the same zone and since then it has been trading with an increasing bullish bias, today, as long as the price is sustained above the zone I have indicated above, I expect it to plummet even further. My advice, if you are already bullish positions with this pair, remain in the trade with your take profit at 1.1095 and stop-loss at 1.0778. If there is a clear break above the level 1.1095, I expect a correction to the same line and a bounce at it followed by a further momentum to the upper side.

Trade recommendation

Remain long with your take profit at 1.1095.