25 Januari 2021, EUR/USD
Technical observation
The pair on the chart above rose and broke above a zone 1.2171-1.2160; it then retraced to the zone but could not break below it. Right now EUR is trading with an increasing bullish bias within the zone mentioned above and I expect it to rally upwards to the resistance line 1.2299. My advice, if you bought this pair within the zone 1.2171-1.2160 after a bounce, remain long with your take profit at 1.2299 and stop loss at 1.2114. On the chart above, as long as price is contained above the zone 1.2171-1.2160, I can only anticipate a surge to the upper side. I can only recommend Bearish positions below 1.2171-1.2160.
Trade recommendation
Remain long with your take profit at 1.2299.
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