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Waiting for a pullback to sell EUR

Waiting for a pullback to sell EUR | 29 June 2021

29 June 2021, EUR/USD

Waiting for a pullback to sell EUR

Technical observation

On the chart above price is trading with an increasing bullish bias below a resistance level 1.1965, this bullish movement is a correction to the level I have mentioned above and I expect a rejection of it at the same line for a possible momentum to the lower side. My advice, wait for a correction to level 1.1965 and a rejection at it to sell EUR with your take profit at 1.1803 and stop loss at 1.2001.In case of a rejection at the level 1.1803, wait for another correction to the resistance level 1.1965 to re-sell EUR and should there be a clear breakout below it with a big red candle, you can anticipate a further surge to the lower side after a correction to the broken line.

Trade recommendation

Wait for a correction to 1.1965 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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