EURUSD – Up
Technical observation
EUR rose to the resistance zone 1.1245-1.1196 but did not break above it, instead it bounced within the same zone and since then it has been trading with an increasing bearish bias, today I anticipate a further surge to the lower side and in case you are already holding short positions with this pair, remain in the trade with your take profit at 1.0743 and stop-loss at 1.1528. If the price declines below the level 1.0743, remain short with EUR with your next take profit at 1.0319, on the other hand, in case of a clear break above zone 1.1245-1.1196, I expect the value of EUR to ascend towards the resistance level 1.2353.
Trade recommendation
Remain short with your take profit at 1.0743.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
