EURUSD – Up
Technical observation
On the chart above price is trading with an increasing bearish bias below the resistance level 1.0349 and as long as it remains below this line, I expect a continuation of this downwards movement towards the supportive zone 1.0123-1.0109. If you are currently holding short positions with the pair above, remain in the trade with your take profit at 1.0123 and stop-loss at 1.0437. In case there is a clear break below the zone indicated above with a big red candle, wait for a pullback to it and a bounce before you continue short towards the key level 0.9951. I can only recommend bullish positions in case of a break above the level 1.0349.
Trade recommendation
Remain short with your take profit at 1.0123.
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