EURUSD – Up
Technical observation
EUR declined to the supportive level 0.9908 but did not break below it, instead it bounced at the same line and for the past few days price has been trading with an increasing bullish bias. This upwards movement is a correction to the resistance zone price established at 1.0822-1.0777 and I expect a rejection of it within the same zone to pick bearish positions with my take profit at 0.9908 and stop-loss at 1.1080. Right now as it is on the chart above, remaining neutral is idea than picking any positions. I can only recommend bullish positions in case of a break above the zone 1.0822-1.0777 with a big green candle.
Trade recommendation
Remain neutral.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
