15 April 2022, EUR/USD
Technical Observation
On the daily chart above price declined to the level 1.0768 but could not break below it, instead, it bounced at it and I expect a correction to the resistance zone 1.1160-1.1132 followed by a rejection within it to re-sell EUR with my take profit at 1.0768 and stop-loss at 1.1303.In case of a clear break below the level 1.0768, I expect a surge in price after a correction to the broken line, however, in case of a clear break above the zone I have mentioned above, I expect a possible momentum to the key level 1.1483 after a pullback to the broken zone. On the chart above as long as price is sustained below the zone 1.1160-1.1132, I can only recommend short positions.
Trade recommendation
Wait for a correction to the zone 1.1160-1.1132 to sell EUR.
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