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Remain short

Remain short | 10 January 2022

10 January 2022, EUR/USD

Remain short

Technical observation

Last week EUR went down with a big red candle after failing to break above the resistance zone 1.1413-1.1375 and as long price remains below this zone, I expect nothing but a surge to the lower side. If you picked short positions the previous week within the zone mentioned above, remain in the trade with your take profit at 1.0697 and stop loss at 1.1571. In case of a clear breakout below the level 1.0697 with a big red candle, I expect the value of this pair to descend further, on the other hand, in case of a breakout above the zone 1.1413-1.1375, bullish movements towards the level 1.1886 can be anticipated.

Trade recommendation

Remain short with your take profit at 1.0697.

Imelda Maseno
Analyst of «FreshForex» company
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