We're flat | 15 Juli 2021

15 Juli 2021, EUR/USD

We're flat

Technical observation

EUR is trading with an increasing bullish bias below the resistance zone it established at 1.1883-1.1874; I expect a loss of this bullish movement within the zone for a possible rally to the upper side. My advice, remain flat temporarily and wait for retracement to the zone I have mentioned above and a rejection within it to sell EUR with your take profit at 1.1712 and stop loss at 1.1924. In case of a clear breakout above the zone 1.1883-1.1874 with a big green candle, I expect a possible momentum to the upper side after a retracement to the just broken zone and a bounce within t but as long as EUR is sustained below the zone, I can only recommend short positions.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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