Expecting a rally towards 1.1277 | 14 November 2023

Technical observation

On the chart above the price retraced to the supportive zone 1.0434-1.0466 and bounced within it, since then this pair has been trading with an increasing bullish bias and as long as the price is sustained above the zone I mentioned earlier, I expect it to ascend further. If you are already holding bullish positions, remain in the trade with your take profit at 1.1277 and stop-loss at 1.0222, in case of a clear break above the level 1.1277 with a big green candle, wait for pullback and a bounce at this line before you continue long towards the level 1.1916 and 1.2553. On the chart above, I can only recommend short positions below the zone 1.0434-1.0466.

Trade recommendation

Remain long with your take profit at 1.1277.