We are neutral | 21 Juli 2023

21 Juli 2023, EUR/USD

Technical observation

On the daily chart above, EUR rose above the zone 1.1048-1.1075 and it is currently trading with an increasing bearish bias, this downwards movement is a correction to the zone I have indicated above and I anticipate a possible rejection within followed by a surge to the upper side. My advice, remain neutral and wait for a retracement to the zone I have mentioned above then buy a bounce within it with your take profit at 1.1679 and stop-loss at 1.0830, If there is a break above the resistance line 1.1679, I anticipate possible further bullish movements towards the key level 1.2353 or even higher.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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