We are flat | 14 July 2023

Technical observation

This week the value of the pair on the chart above has been trading with an increasing bullish bias and I expect it to close bullish. Next week I anticipate a further surge to the upper side to the resistance zone 1.1467-1.1415 followed either a clear break above it with a big green candle, or a rejection within it. My advice, remain flat and wait for a correction to the zone mentioned above then sell a rejection within it with your take profit at 1.0266 and stop-loss at 1.1818. If there is a clear break above the zone 1.1467-1.1415, wait for a correction and a rejection within the same zone before you pick bullish towards the key level 1.2461.

Trade recommendation

Remain flat.