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We are bearish towards 1.1228

We are bearish towards 1.1228 | 24 December 2021

24 December 2021, EUR/USD

We are bearish towards 1.1228

Technical observation

EUR is trading with an increasing bearish bias below the supportive level 1.1368-1.1359, I expect either a continuation of this downwards movement to the supportive level 1.1228, or a loss of it followed by bullish movements to the zone mentioned above and a clear breakout above it with a big green candle. If you are currently holding short positions with this pair, remain in the trade with your take profit at 1.1228 and stop loss at 1.1432. In case price moves to the upper side and clearly breaks above the zone 1.1368-1.1359 with a big green candle, I expect bullish movements to the resistance level 1.1485 after a correction to the broken zone.

Trade recommendation

Remain short with your take profit at 1.1228.

Imelda Maseno
Analyst of «FreshForex» company
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