25 July 2022, EUR/USD
Technical observation
On the daily chart above price has been trading with an increasing bullish bias and my expectation is a continuation of this upwards movement to the resistance zone 1.0781-1.0741 followed by a rejection within it to pick short positions with my take profit at the level 1.0015 and stop-loss at 1.0983. In case there is a clear break below the level 1.0015 with a big red candle I expect the value of the pair above to descend after a pullback to just broken line. On the other hand if there is a clear break above the zone 1.0781-1.0741, I expect price to surge towards the resistance level 1.1456 or even higher to the key level 1.1940.
Trade recommendation
Remain flat.
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