Expecting a rally to 1.0768 | 14 Maret 2022

14 Maret 2022, EUR/USD

Expecting a rally to 1.0768

Technical observation

The last two consecutive candles on the chart above declined steadily and as long as the value of this pair is sustained below the level 1.1120 I expect a continuation of this downwards movement towards the supportive level 1.0768. If you picked short positions at 1.1120 after a bounce, remain in the trade with your take profit at 1.0768 and stop loss at 1.1270. Should there be a clear breakout below the level 1.0768 with a big red candle, there is a possibility of a further surge in price after a correction to the broken line, On the chart above, I can only recommend bullish positions in case of a clear break above the level 1.1120 with a big green candle.

Trade recommendation

Remain short with your take profit at 1.0768.

Imelda Maseno
Analyst of «FreshForex» company
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