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We are short towards 1.0768

We are short towards 1.0768 | 28 March 2022

28 March 2022, EUR/USD

We are short towards 1.0768

Technical observation

For the past three consecutive days EUR has been trading with an increasing bearish bias and as long as it is sustained below the resistance level 1.1120 I expect a continuation of this downwards movement to the supportive level 1.0768. If you are currently holding short positions with the pair above, remain in the trade with your take profit at 1.0768 and stop-loss at 1.1270. If price descends below the level 1.0768 with a big red candle, I anticipate a further surge to the lower side however, in case of a clear break above the level 1.1120 with a big green candle; I expect a momentum to the resistance zone 1.1483-1.1461.

Trade recommendation

Remain short with your take profit at 1.0768.

Imelda Maseno
Analyst of «FreshForex» company
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