26 February 2021, EUR/USD
Technical observation
EUR retraced to a supportive level 1.2041 but could not break below it, it bounced at the line and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance line 1.2759 followed by either a clear breakout above it with a big green candle, or a rejection at it followed by a correction to the line 1.2041. My advice, if you bought EUR at the level 1.2041 after a bounce, remain long with your take profit at 1.2759 and stop loss at 1.1799. As long as price is contained above the line 1.2041, I can only recommend bullish positions for the pair on the chart above.
Trade recommendation
Remain long with your take profit at 1.2759.
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