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Remain neutral.

Remain neutral. | 26 Agustus 2022

26 Agustus 2022, EUR/USD

Remain neutral.

Technical observation

EUR is trading with an increasing bullish bias above the supportive level 0.9901 and I expect a continuation of this upwards movement to the resistance zone it established at 1.0403-1.0367. My advice, remain flat and wait for a correction to the zone mentioned above the pick short positions within it with your take profit at 0.991 and stop-loss at 1.0620. In case of a clear break below the level 0.9901 with a big red candle, I expect a further surge to the lower side after a correction to the broke line, as it is on the chart above, I can only recommend bullish positions in case of break above the zone 1.0403-1.0367.

Trade recommendation

Wait for a pullback to the zone 1.0403-1.0367 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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