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Remain short

Remain short | 21 November 2022

21 November 2022, EUR/USD

Remain short

Technical observation

On the chart above price pulled back to the resistance zone it established at 1.0421-1.0367 but did not break above it, instead it bounced within this zone and currently it is trading with an increasing bearish bias. As long this pair is sustained below the zone mentioned above, I expect a continuation of this bearish movement and if you are currently holding short positions with EUR, I recommend that you remain in the trade with your take profit at 0.9596 and stop-loss at 1.0644. If there is a clear break below the level 0.9596 with a big red candle, I expect the value of EUR to surge further to the lower side after a correction to the broken line

Trade recommendation

Remain short with your take profit at 0.9596.

Imelda Maseno
Analyst of «FreshForex» company
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