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Remain short

Remain short | 24 June 2021

24 June 2021, EUR/USD

Remain short

Technical observation

EUR rose up to the resistance zone 1.1955-1961 but did not break above it, it bounced below the zone and is currently trading with and increasing bearish bias, I expect this upwards movements to continue to the supportive level 1.1803 followed by either a clear breakout below it with a big red candle. If you sold EUR within the zone I have mentioned above after bounce, remain short with your take profit at 1.1803 and stop loss at 1.2000. However, in case of a clear breakout above the zone 1.1955-1961 with a big green candle, wait for a correction to the just broken zone confirming a possible rally to the upper side before you pick long positions.

Trade recommendation

Remain short with your take profit at 1.1803.

Imelda Maseno
Analyst of «FreshForex» company
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