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Wait | 31 March 2022

31 March 2022, EUR/USD

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Technical observation

Yesterday EUR did not decline as I had anticipated; however, it rose and broke above the resistance zone 1.1128-1.1114 with a big green candle then pulled back to it once. If the value of the pair above is contained above the zone 1.1128-1.1114 I expect it to ascend towards the upper resistance level 1.1382. My advice, wait for a second correction to the zone I have mentioned above to pick long positions with your take profit at 1.1382 and stop loss at 1.1043. Should there be a clear break above the zone 1.1383-1.1391 with a big green candle, you can expect further bullish movements towards 1.1615.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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