22 August 2022, EUR/USD
Technical observation
EUR is trading with an increasing bearish bullish bias slightly above the supportive level 0.9991, this upwards movement is a correction to the resistance zone 1.0287-1.0266 and I expect it to continue to the same zone followed by a bounce within it to pick short positions with my take profit at 0.9991 and stop-loss at 1.0367. If there is a clear break below the level 0.9991 with a big red candle, I expect EUR to decline further after a correction to the broken line, however, in case of a clear break above the zone 1.0287-1.0266; I expect the value of the pair above to ascend towards the resistance level 1.0599 or even higher to 1.0934.
Trade recommendation
Remain flat.
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