Remain flat.

02 Desember 2022, EUR/USD

Remain flat.

Technical observation

On the chart above, price did not bounce within the zone 1.0410-1.0367 but instead it rose above it with a big green candle and it I still trading above this zone with an increasing bullish bias. Next week I expect a loss of this upwards movement followed by a correction to the zone I have mentioned above and a possible bounce within it, my advice you remain neutral and wait for a second correction to this zone to buy EUR with your take profit at 1.1123 and stop-loss at 1.0095. If there is a clear break above the level 1.1123, I expect the value of EUR or ascend further towards the upper resistance level 1.1679 or even higher to 1.2353.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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