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Remain short

Remain short | 12 April 2022

12 April 2022, EUR/USD

Remain short

Technical observation

On the chart above price is trading with an increasing bearish bias slightly above the supportive level 1.0697, I expect a continuation of this downwards movement to the same level followed by a either rejection at it or a clear breakout below it. If you are currently holding short positions with the pair above, remain in the trade and pick your profits at 1.0697, however, in case you are neutral with EUR, wait for either another correction to the zone 1.1461-1.1418 to pick short positions, or a clear break below the level 1.0697 with a big red candle to sell EUR. I can only recommend bullish positions above the zone 1.1461-1.1418.

Trade recommendation

Remain short with your take profit at 1.0697.

Imelda Maseno
Analyst of «FreshForex» company
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