29 December 2021, EUR/USD
Technical observation
On the daily chart above price retraced to the resistance zone 1.1327-1.1345 but could not break above it, instead it was rejected below the same zone and since then it has been trading with an increasing bearish bias. I expect further rally to the supportive level 1.0992 followed by a clear breakout below it with a big red candle and a further surge towards the level 1.0640. If you sold EUR within the zone mentioned above after a bounce, I would advise you remain short with your take profit at 1.0992 and stop loss at 1.1449. As it is on the chart above, I can only recommend bullish positions in case of a clear break above the zone 1.1327-1.1345.
Trade recommendation
Remain short with your take profit at 1.0992.
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