05 August 2022, EUR/USD
Technical observation
EUR is trading with an increasing bullish bias below the resistance zone 1.0276-1.0268 and I expect a continuation of this upwards movement to the zone I have mentioned above followed by a rejection within it. My advice, remain neutral temporarily and wait for a correction to the zone 1.0276-1.0268 then sell a bounce within it with your take profit at 1.0105 and stop-loss at 1.0357. If there is a clear break below the line 1.0105 with a big red candle, wait for a correction to it and a bounce before you continue short towards the supportive level 1.9952. I can only recommend bullish positions above the zone 1.0276-1.0268.
Trade recommendation
Pick short positions within the zone 1.0276-1.0268 with your take profit at 1.0105.
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