18 November 2021, EUR/USD
Technical observation
The currently direct of movement of the pair on the hourly chart above is downwards; price is at present trading with an increasing bullish bias and my expectation is a continuation of this bullish movement to the resistance level 1.1351 followed by a rebound at it to pick short positions with my take profit at 1.1263 and stop loss at 1.1390. If the value of this pair clearly penetrates below the supportive level 1.1263 with a big red candle, I expect a further surge to the lower side, on the other hand, I expect possible bullish movements of price in case of a clear breakout above the key level 1.1351 with a big green candle.
Trade recommendation
Wait for a correction to the level 1.1351 to sell EUR.