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Buy EUR within 1.1369-1.1346

Buy EUR within 1.1369-1.1346 | 14 Februari 2022

14 Februari 2022, EUR/USD

Technical observation

On Friday price retraced to the supportive zone 1.1369-1.1346 but could not break below it, it bounced within the zone and as long as it is sustained above the same zone I expect a surge to the upper side. My advice, pick long positions within the supportive zone with your take profit at 1.1650 and stop loss at 1.1236. In case of a clear breakout above the level 1.1650 with a big green candle, I expect price to rally further upwards, the key levels to look for on your way upwards include, 1.1650, 1.1889 and the upper resistance line 1.2224. On the daily chart above short positions can only be recommended in case of a break below 1.1369-1.1346.

Trade recommendation

Buy EUR within 1.1369-1.1346 with your take profit at 1.1650.

Imelda Maseno
Analyst of «FreshForex» company
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