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Remain flat

Remain flat | 10 March 2021

10 March 2021, EUR/USD

Technical observation

EUR is trading with an increasing bearish bias above a supportive zone it established at 1.164-1.1599, this bearish movement is a pullback to the zone mentioned above and I expect a loss of it within the same zone for a possible upwards movement towards the resistance line 1.2252. My advice, wait for a correction to zone 1.164-1.1599 and buy a bounce within it with your take profit at 1.2252 and stop loss at 1.1172. In case of a penetration below the zone 1.164-1.1599 with a big red candle, you can anticipate bearish movements of price to the supportive line 1.10826 after a retracement to the just broken zone.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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