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Remain flat

Remain flat | 28 June 2021

28 June 2021, EUR/USD

Remain flat

Technical observation

On the weekly chart above price is trading with an increasing bearish bias between a supportive zone 1.1605-1.1571 and a resistance level 1.2248, this bearish movement of price is a correction to the zone I have mentioned above and I expect a loss of it within the same zone to pick long positions. As long as price is contained above the zone 1.1605-1.1571, I can only recommend long positions for this pair, however, in case of a clear breakout below the same zone with a big red candle, I expect EUR to plummet to the lower side towards the supportive level 1.0826 after a retracement to the just broken zone and a bounce within it.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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