Remain long | 18 October 2023

Technical observation

On the weekly chart above, the price is trading with an increasing bullish bias slightly below the resistance level 151.87 and this week I expect a further surge to the same level followed by either a rejection at it or a clear break above it with a big green candle. If you are already holding bullish positions, I recommend that you remain in the trade and pick your profits at 151.87, should there be a bounce at the level 151.87, wait for another correction to the supportive zone 127.15-126.28 to re-buy USD, on the other hand, in case of a break above the level wait for a pullback to this line before you continue long.

Trade recommendation

Remain long with your take profit at 151.87.