02 March 2022, EUR/USD
Technical observation
Yesterday EUR did not rise ad I had expected, instead it declined with a big red candle however it could not break below the supportive level 1.1120 and as long as price is sustained above this zone there is a probability of a rally towards the resistance zone it established at 1.1483-1.1461. My advice, remain neutral with the pair above and wait for a correction to the zone I have mentioned previously then sell a bounce within it with your take profit at 1.1120 and stop-loss at 1.1593. In case of a penetration below the level 1.1120 with a big red candle, I expect a possible surge to the lower side after a correction to the broken line.
Trade recommendation
Remain neutral.
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