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We're long towards 1.2248

We're long towards 1.2248 | 08 September 2021

08 September 2021, EUR/USD

Technical observation

Since its rejection within the supportive zone 1.1750-1.1703, EUR has been rising steadily for two consecutive weeks, this week however, price has been trading with an increasing bearish bias but despite this downwards movement I anticipate a momentum to the upper side. My advice, if you bought EUR within the zone I have mentioned above after a bounce, remain long with your take profit at 1.2248 and stop loss at 1.1494. In case there is a clear break above the level 1.2248 with a big green candle, I anticipate a further rally to the upper side after a retracement to the broken line, but in case of a bounce at , wait for a another correction to 1.1750-1.1703 to buy EUR.

Trade recommendation

Remain long with your take profit at 1.2248.

Imelda Maseno
Analyst of «FreshForex» company
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