EURUSD – Up
Technical observation
EUR is pulling back to a resistance zone it established at 1.0836-1.0823 and I expect a rise to the same zone followed by a possible rejection of price within it. My advice, remain neutral and wait for a correction to the zone I have mentioned above then sell a bounce within it with your take profit at 1.0635 and stop-loss at 1.0894. If the price declines below the level 1.0635, I expect it to descend further after a correction to the broken line, on the other hand, should there be a rise above the zone 1.0836-1.0823, I expect the value of this pair to surge towards the resistance levels 1.0995 and 1.1080.
Trade recommendation
Remain neutral.
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