EURUSD – Up
Technical observation
On the chart above, price rose steadily to the resistance level it established at 1.0347 but could not break above it, instead it bounced at this level and my expectation is bearish movements towards the supportive level 1.0088. If you picked short positions at the level 1.0347 after a bounce, I recommend that you remain in the trade with your take profit at 1.0088 and stop-loss at 1.0449. Should there be a clear penetration below the line 1.0088 with a big red candle, you can expect the value of this pair to plummet further towards the supportive zone 0.9859-0.9844 or even lower to the supportive level 0.9534.
Trade recommendation
Remain short with your take profit at 1.0088.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
