Technical Outlook and Chart Setups:
The scenario has not unchanged since last 4 trading sessions. Bulls seem to be aiming at a break above 1.5230 level. This would trigger a rapid move towards 1.53 level and higher. Now it is immediate resistance. On the flip side, a pullback would first bring down prices to 1.51 before rallying further. In both situations, the single currency is expected to gain further. Looking into the risk/reward ratio, current levels are not the best ones to enter into long positions. The ones which were taken earlier could be held for now.
Trade Recommendations:
Hold on to long positions for now, partial profit booking is recommended. Stop at 1.5.
Good Luck!
