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Remain short

Remain short | 30 March 2021

30 March 2021, EUR/USD

Technical observation

EUR is trading with an increasing bearish bias above a supportive level 1.1632, if you sold this pair within the zone 1.2011-1.1965 after a bounce, remain short with your take profit at 1.1632 and stop loss at 1.2139. At the level 1.1632, I expect either a clear breakout below it with a big red candle, or a rejection at it followed by a correction to the zone mentioned above. If price breaks below the level 1.1623, wait for a retracement to it and a bounce confirming further bearish movement of price before you continue short towards the key level 1.1172. As it is on the chart above, I can only recommend short position for EUR.

Trade recommendation

Remain short with your take profit at 1.1632.

Imelda Maseno
Analyst of «FreshForex» company
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