We are bullish towards 1.1373. | 09 Desember 2021

09 Desember 2021, EUR/USD

Technical observation

Since it bounced at the supportive zone 1.1235-1.1227, EUR has been trading with an increasing bullish and i expect a continuation of this upwards movement to the resistance level 1.1373 followed by either a clear breakout above it with a big green candle, or a bounce at it followed a decline to the zone mentioned above. If you bought EUR within the zone 1.1235-1.1227 after a bounce, remain long with your take profit at 1.1373 and stop loss at 1.1186. In case of a clear breakout above 1.1235-1.1227 with a big green candle, wait for a correction to it before you pick bullish positions towards the upper resistance level 1.1485.

Trade recommendation

Remain long with your take profit at 1.1373.

Imelda Maseno
Analyst of «FreshForex» company
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