Looking to sell within 1.0759-1.0696

29 November 2022, EUR/USD

Looking to sell within 1.0759-1.0696

Technical observation

Last week EUR rallied to the upper side however this week it has been trading with an increasing bearish bias, despite this bearish movement I expect a surge to the resistance zone 1.0759-1.0696 followed by a rejection of price within it. My advice, remain neutral and wait for a correction to the zone I have mentioned above then sell a bounce within it with your take profit at 0.9532 and stop-loss at 1.1183. If there is a clear break below the supportive level 0.9532 with a big red candle, you can expect the value of this pair to plummet further to the lower side after a correction and a rejection of price at the just broken line.

Trade recommendation

Place a pending sell limit order within the zone 1.0759-1.0696.

Imelda Maseno
Analyst of «FreshForex» company
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