EURUSD – Up
Technical observation
On the chart above, the price rose above the resistance zone 1.0908-1.0863 and it is still trading with an increasing bullish bias above the same zone. I expect a loss of this upwards movement followed by a correction to the broken zone and rejection within it. My advice, remain flat and wait for a correction to the zone I have mentioned above then buy a bounce within it with your take profit at 1.1679 and stop-loss at 1.0614. In case of a penetration above the level 1.1679, I expect the value of this pair to ascend further towards the resistance level 1.2353. I can only recommend short positions below the zone 1.0908-1.0863.
Trade recommendation
Remain neutral.
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