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Remain neutral

Remain neutral | 14 January 2022

14 January 2022, EUR/USD

Remain neutral

Technical observation

EUR is trading with an increasing bullish bias below the resistance zone it established at 1.1643-1.1605, I expect this upwards movement to continue the same zone followed by a rejection within it to pick short positions with my take profit at 1.0693 and stop loss at 1.1844. In case this pair is not sustained below the zone mentioned above but instead clearly breaks above it with a big green candle, I expect a correction to the broken zone followed by a bounce within it and a momentum to the resistance level 1.2240. Right now as it is on the weekly chart above, I would recommend that you remain neutral temporarily with this pair.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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