Expecting a surge to 1.3138 | 31 August 2023

Technical observation

Since it bounced within the supportive zone 1.2561-1.2541, the value of the pair above has been trading with an increasing bullish bias and today I expect a further momentum to the upper side. In case you picked bullish positions within the zone I have indicated above, I recommend that you remain long with your take profit at 1.3138 and stop-loss at 1.2416, should the price ascend above the level 1.3138, wait for a pullback and a bounce at the broken line before you continue long, on the other hand, if the price declines below the zone 1.2561-1.2541, short this pair towards the supportive levels 1.2181, 1.1804 or lower.

Trade recommendation

Remain bullish with your take profit at 1.3138.