EURUSD – Up
Technical observation
On the chart above, the price retraced to the resistance zone 1.0798-1.0786 but could not break above it, instead it bounced within the same zone and currently it is trading with an increasing bearish bias. As long as the price is sustained below the zone i have mentioned above, I expect a further surge to the lower, if you picked short positions within the zone 1.0789-1.0786, I recommend you remain bearish with your take profit at 1.0515 and stop-loss at 1.0864. Should there be a penetration below the level 1.0515, wait for a retracement to the broken line and a rejection at it before you continue short with this pair.
Trade recommendation
Remain short with your take profit at 1.0515.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
