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We are neutral

We are neutral | 15 February 2022

15 February 2022, EUR/USD

We are neutral

Technical observation

EUR declined below the supportive zone 1.1366-1.1360 with a big red candle then rallied further downwards and is still showing signs of bearish movements. However, I expect a loss of this downwards movement followed by a correction to the zone I have mentioned above and a rejection within it to pick short positions with my take profit at the level 1.1236 and stop loss at 1.1407. Should there be a clear breakout below the supportive level 1.1236 with a big red candle, I expect price to plummet to the lower supportive level 1.1120 after a retracement and a bounce at the broken line. Right now I would advice that you remain flat.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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