03 January 2022, EUR/USD
Technical observation
On the 4 hour chart above price broke above a resistance zone 1.1372-1.1364 with a big green candle and it is still showing signs of rising even further, however, I expect a loss of this upwards movement followed by a correction to the just broken zone and a bounce within. My advice, remain flat and wait for a correction to 1.1372-1.1364 then buy a bounce within it with your take profit at 1.1516 and stop loss at 1.1311. If price breaks above the level 1.1516 with a big green candle, I anticipate a further surge towards the upper resistance level 1.1660. As it is on the chart above, only bullish positions are ideal for this pair.
Trade recommendation
Remain neutral.
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