EURUSD – Up
Technical observation
EUR declined to the supportive level 1.0489 then bounced at it and since then it has been trading with an increasing bullish bias. This upwards movement is a correction to the resistance zone the price established at 1.0770-1.0751 and I expect either a bounce within this zone or a clear break above it with a big green candle. My advice, remain neutral and wait for a pullback to the zone I have mentioned above then re-sell EUR within it with your take profit at 1.0489 and stop-loss at 1.0865. If there is a break below the level 1.0489, continue short with this pair after a retracement to the broken line.
Trade recommendation
Remain neutral.
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