Wait for a pullback to the zone 1.0410-1.0367 | 14 Desember 2022

14 Desember 2022, EUR/USD

Wait for a pullback to the zone 1.0410-1.0367

Technical observation

On the chart above, EUR rose above the zone 1.0410-1.0367 and it currently it is trading with an increasing bullish bias. However, I expect a loss of this upwards movement followed by a correction to the zone I have mentioned above, and my advice is, remain flat and wait for a correction to the zone 1.0410-1.0367 then buy a bounce within it with your take profit at 1.1123 and stop-loss at 1.0100. In case of a clear breach above the level 1.1123, I expect this pair to surge to the levels 1.1679 and 1.2353, on the other hand should there be a break below the zone 1.0410-1.0367; you can expect a possible momentum towards the level 0.9596.

Trade recommendation

Wait for a pullback to the zone 1.0410-1.0367 with to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
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