Remain long | 27 July 2023

Technical observation

USD retraced to the supportive zone 138.75-138.22 for two consecutive times and both times it was sustained above this zone and as long as the price remains above the zone mentioned above, I expect further momentum to the upper side. If you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 135.28, in case of a break above the level 151.97, wait for a correction to the broken line before you continue long, on the other hand, should there be a clear breach below the zone 138.75-138.22, I anticipate a possible plunge towards the supportive levels 126.78, 112.70 and 102.50.

Trade recommendation

Remain long with your take profit at 151.97.