EURUSD – Up
Technical observation
Last week the value of the pair on the chart above price declined below the supportive level 1.0405 and this week it opened bearish below the same line. I expect a loss of this bearish movement followed by a correction to the level 1.0405 and a bounce at it to sell EUR with my take profit at 1.09624 and stop-loss at 1.0899. In case of a clear break below the level 0.9624 with a big red candle, I expect price to decline further after a correction to the broken line, however, should there be a clear break above the level 1.0405, you can wait a correction to the resistance zone 1.1541-1.1495 and a rejection within it to re-sell EUR.
Trade recommendation
Wait for a pullback to the level 1.0405 to sell EUR.
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