EURUSD – Up
Technical observation
On the chart above price rose to the resistance level 1.0920 but did not break above it, instead it bounced at the same level and it is currently trading with an increasing bearish bias. This downwards movement is a correction to the supportive zone 1.0722-1.0711 and I expect a rejection within it followed by a rally to the upper side. My advice, remain flat and wait for a pullback to the zone I have mentioned above then buy a bounce within it with your take profit at 1.0920 and stop-loss at 1.0635, on the chart above, a further surge to the upper side can be expected in case of a clear break above the level 1.0920 .
Trade recommendation
Remain neutral.
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