EURUSD – Up
Technical observation
On the chart above the price pulled back to the resistance zone 1.1048-1.1013 but did not break above it, instead it bounced within the same zone and it is currently trading with an increasing bearish bias, as long as the price is sustained blow the zone indicated above I expect a further surge to the lower side if you are already holding short positions with this pair, I recommend that you remain in the trade with your take profit at 1.0319 and stop-loss at 1.1329, should there be a clear break below the level 1.0319, wait for a correction and a rejection of price at it before you continue short towards the lower supportive level 0.9533.
Trade recommendation
Remain short with your take profit at 1.0319.
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