02 апреля 2021, EUR/USD
Technical observation
This week, EUR has been declining steadily and is currently trading above the supportive zone 1.1642-1.1588 with an increasing bearish momentum. I expect a loss of this bearish movement within the zone mentioned above for a rally to the upper side. My advice, remain flat temporarily and wait for a correction to the zone 1.1642-1.1588 and a rejection within it to buy EUR with your take profit at 1.2252 and stop loss at 1.1409. Should there be a clear breakout below the zone 1.1642-1.1588 with a big red candle, wait for a correction to the just broken zone and a bounce within it before you pick short positions towards the level 1.0826.
Trade recommendation
Remain neutral temporarily.
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