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We're flat

We're flat | 09 April 2021

09 April 2021, EUR/USD

We're flat

Technical observation

EUR is trading below a resistance zone 1.2011-1.1965 with an increasing bullish bias, this bullish movement is a correction to the zone mentioned above and I expect a bounce within the same zone for a possible a rally to the supportive level 1.1632. My advice, remain flat temporarily and wait for a correction to the zone 1.2011-1.1965 and a rejection within it to sell EUR with your take profit at 1.1632 and stop loss at 1.2139. Should there be a clear breakout below the supportive level 1.1632 with a big red candle, you can anticipate a further momentum to the lower side towards the supportive level 1.1172.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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