Expecting a pullback to the level 1.0349 | 18 Juli 2022

18 Juli 2022, EUR/USD

Expecting a pullback to the level 1.0349

Technical observation

On the 4 hour chart above price declined to the supportive level 0.9988 but could not break below it, instead it bounced at the same level and for some time now it has been trading with an increasing bullish bias. I expect a continuation of this upwards movement to the resistance line 1.0349 followed by a bounce at it to re-sell EUR with my take profit at 0.988 and stop-loss at 1.0483, In case of a clear breakout below the supportive level 0.9988 with a big red candle, I expect price to plummet to the lower side after a pullback to the broken line. I can only recommend bullish positions above the level 1.0349.

Trade recommendation

Wait for a correction to the level 1.0349 to sell EUR.

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.