We are short towards 1.0697 | 23 March 2022

23 March 2022, EUR/USD

We are short towards 1.0697

Technical observation

Last week price retraced to the upper side with a big green candle however, this week it opened bearish and I expect it to continue downwards for the rest of the week. If you are currently holding short positions with the pair above, remain in the trade and pick your profits at the supportive level 1.0697 and stop-loss at 1.1694. In case of a clear breakout below the level 1.0697 with a big red candle, I anticipate a surge towards 1.0290 after a correction to the broken line on the other hand, should there be a clear breakout above the zone 1.1461-1.1429 with a big green candle I expect a rally to the resistance level 1.2251.

Trade recommendation

Remain short with your take profit at 1.0697.

Imelda Maseno
Analyst of «FreshForex» company
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