EURUSD – Up
Technical observation
EUR retraced to the zone 1.1053-1.0994 then bounced within it and for the past three consecutive weeks it has been trading with an increasing bearish bias. This week I expect a further rally to the lower side and in case you already sold this pair within the zone i have mentioned above, remain in the trade with your take profit at 0.9532 and stop-loss at 1.1458. In case of a clear break below the level 0.9532, wait for a correction and a rejection at it before you continue short with this pair, should there be a clear break above the zone 1.1053-1.0994, I anticipate the value of EUR to ascend towards the resistance level 1.2461 or higher.
Trade recommendation
Remain short with your take profit at 0.9532.
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