Wait for a correction to pick short positions. | 18 Februari 2022

18 Februari 2022, EUR/USD

Wait for a correction to pick short positions.

Technical observation

On the weekly chart above price has been trading with an increasing bullish bias despite the anticipated bearish movement this week. This upwards movement is a minor retracement to the supportive zone 1.1461-1.1421 and I expect a loss of it within the same zone followed by a surge to the lower side. My advice, if you are currently neutral with this pair remain flat and pick short positions within the zone I have mentioned above with your take profit at 1.0697 and stop loss at 1.1647. In case of a clear breakout above the zone 1.1461-1.1421 with a big green candle, I expect further bullish movements towards the resistance level 1.2252.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
Setuju dengan review?
opini pedagang:
Close
Masuk
Browser Anda tidak mendukung kue. Jika cookie dinonaktifkan di browser Internet Anda, Anda mungkin memiliki masalah dengan render daerah Pribadi. Cara mengaktifkan dukungan cookie.