we are bearish towards 1.1632. | 15 Maret 2021

15 Maret 2021, EUR/USD

Technical observation

EUR rose to the resistance line it established at 1.2011-1.1965 but it did not break above it , price bounced within the zone and is currently trading with an increasing bearish bias, I expect this downwards movements to continue to the supportive line 1.1632 followed by a possible break below it with a big red candle. My advice, if you sold EUR within the zone mentioned above after a bounce, remain short with your take profit at 1.1632 and stop loss at 1.2143. Should there be a clear breakout below the line 1.1632 with big red candle, wait for a correction to it before you pick short positions towards 1.1172.

Trade recommendation

Remain short with your take profit at 1.1632.

Imelda Maseno
Analyst of «FreshForex» company
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