EURUSD – Up
Technical observation
Last week EUR pulled back to the resistance zone it established at 1.0832-1.0891 but did not break above it, instead it bounced within the same zone and this week price opened bearish. As long as the value of this pair is sustained below the zone I have mentioned above I expect a continuation of this bearish movement to the supportive level 0.9532. As it is on the weekly chart above, my advice is, sell EUR now within the 1.0832-1.0891 with your take profit at 0.9532 and stop-loss at 1.1252. In case of a break below the level 0.9532 with a big red candle, wait for a correction to it before you continue short with this pair.
Trade recommendation
Sell EUR now within the zone 1.0832-1.0891 with your take profit at 0.9532.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
