24 February 2021, EUR/USD
Technical observation
On the 4-hour chart above, price is trading with an increasing bearish bias below a resistance line 1.2180. Either I expect a decline of price to the supportive zone 1.2035-1.2028 or a rise to the resistance line mentioned above followed by a clear penetration above it with a big green candle. In case of a rally to the zone 1.2035-1.2028, buy EUR within it after a bounce with your take profit at 1.2180 and stop loss at 1.1978. Should there be a clear break above 1.2180, wait for a pullback t it and a bounce before you buy this pair. You can only anticipate bearish movements below the zone 1.2035-1.2028.
Trade recommendation
Remain flat.
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