Expecting a surge to 1.0928 | 26 Mei 2022

26 Mei 2022, EUR/USD

Expecting a surge to 1.0928

Technical observation

EUR rose and broke above the resistance level 1.0657-1.0641, it the pulled back to the broken zone twice and both times price was sustained above the zone. My expectation is a continuation of this upwards movement to the resistance level 1.0928 followed by either a clear breakout above it with a big green candle, or a rejection at it followed by another correction to the zone I mentioned above. If you are currently holding bullish positions with the pair above, remain in the trade with your take profit at 1.0928 and stop-loss at 1.0547. Should there be a clear break above the level 1.0928, continue long after a pullback to the broken level and a bounce at it.

Trade recommendation

Remain long with your take profit at 1.0928.

Imelda Maseno
Analyst of «FreshForex» company
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