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Sell EUR within 1.0832-1.0740

Sell EUR within 1.0832-1.0740 | 20 Januari 2023

20 Januari 2023, EUR/USD

Sell EUR within 1.0832-1.0740

Technical observation

On the chart above price is trading with an increasing bullish bias within the zone 1.0832-1.0740 and I expect it close bullish, however, next week I expect possible movements of price. My advice is, pick short positions within the zone indicated above with your take profit at 0.9532 and stop-loss at 1.1250. Should there be a clear break below the level 0.9532 with a big red candle, I expect the value of this pair to plummet further to the lower side, on the other if there is a clear break above the zone 1.0832-1.0740, I expect possible bullish movements of price towards the resistance level 1.2258 after a correction and a rejection to the broken zone.

Trade recommendation

Sell EUR within 1.0832-1.0740 with your take profit at 0.9532.

Imelda Maseno
Analyst of «FreshForex» company
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