07 Juni 2022, EUR/USD
Technical observation
On the weekly chart above price is trading above the supportive level 1.0405 with an increasing bearish bias, however, I expect a loss of this downwards movement followed by a correction to the zone it established at 1.1541-1.1495 and a bounce within it to pick short positions with my take profit at 1.0405 and stop-loss at 1.1878. If price breaks below the level 1.0405 with a big red candle, I expect it to descend further after a correction to the broken line, on the other hand should there be a clear break above the zone 1.1541-1.1495; I expect a momentum towards the resistance 1.2540 or even higher to the key level 1.3951.
Trade recommendation
Remain neutral.
en 
cn 
ar 
ru 
vn 
es 
pt 
th 
kz 
ua 
tj 
uz 
az 
ms 
