27 May 2022, EUR/USD
Technical observation
On the chart above price is trading with an increasing bullish bias above the supportive zone 1.0657-1.0641 as anticipated and today I expect a further momentum to the upper side. If you are currently holding bullish positions with the pair above, remain in the trade with your take profit at 1.0928 and stop-loss at 1.0547. Continue long after a clear break above the level 1.0928 followed by a correction to it. As it is on the 4 hour chart above, as long as price is contained above the zone I have mentioned above, I can only recommend bullish positions for EUR. Bearish movements can only be expected in case of a clear break below the zone 1.0657-1.0641.
Trade recommendation
Remain long with your take profit at 1.0928.
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