we are flat | 03 Desember 2021

03 Desember 2021, EUR/USD

we are flat

Technical observation

Yesterday price did not decline to the supportive level 1.1193 as I had anticipated but instead it consolidated below the supportive zone 1.1382-1.1372 and right now it is showing sings or rallying to the upper side, should this be the case, I expect a rejection of price within the zone 1.1382-1.1372 to sell EUR with my take profit at 1.1193 and stop loss at 1.1445. In case price is not contained below the zone mentioned above but instead it penetrates above it with a big green candle, I expect a correction to the broken zone followed by a possible momentum to the upper side. Right now remaining flat is ideal than picking any positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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