EURUSD – Up
Technical observation
On the chart above, price has been trading with an increasing bearish bias for the past three consecutive days, this downwards movement is a correction to the supportive zone 1.0410-1.0373 and I expect a possible rejection of price within it. My advice, remain neutral and wait for a retracement to the zone I have mentioned above then buy a bounce within it with your take profit at 1.1123 and stop-loss at 1.0126. If there is a clear break above the level 1.1123 with a big green candle, you can expect a further momentum to the upper side and I recommend that you wait for a correction to the broken line before you continue long.
Trade recommendation
Remain neutral.
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