20 мая 2021, EUR/USD
Technical observation
On the chart above, price broke above a key level it established at 1.2172 with a big green candle. It then retraced to the same level and could not penetrate below it, It was sustained above the it and as long as it stays above this line, buyers remain in control of the movement of price hence you can anticipate a momentum to the upper side. If you are currently long with this pair, remain in the trade with your take profit at 1.2348 and stop loss at 1.2121. Should there be a clear breakout above the level 1.2348 with a big green candle, I expect a pullback to it and a bounce followed by a further surge in price to the upper side.
Trade recommendation
Remain long with your take profit at 1.2348.
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