09 February 2021, EUR/USD
Technical observation
On the cart above, price pulled back to a supportive zone it established at 1.1964-1.1938 and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the key line 1.2328 followed by either a clear break above it with a big green candle or a rejection at it for another retracement to the zone mentioned above. My advice if you bought EUR within the zone 1.1964-1.1938 after a bounce, remain short with your take profit at 1.2328 and stop loss at 1.1743. In case there is a clear break below 1.1964-1.1938 with a big red candle, wait for a pull back to it before you short this pair.
Trade recommendation
Remain bullish with your take profit at 1.2328.
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