04 марта 2021, EUR/USD
Technical observation
EUR retraced to the supportive zone 1.2057-1.2048 as I had anticipated, price then bounced within the zone and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance line 1.2179 followed by a either a bounce at it or a clear penetration above it. My advice, buy EUR now within the zone mentioned above with your take profit at 1.2179 and stop loss at 1.2004. Should there be a clear breakout below the zone 1.2057-1.2048 with a big red candle, wait for a correction to it and a bounce before you pick short positions towards the supportive level marked at 1.1958.
Trade recommendation
Remain long with your take profit at 1.2179 and stop loss at 1.2004.
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