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Remain short

Remain short | 08 April 2022

08 April 2022, EUR/USD

Technical observation

This week the value of the pair on the chart above opened bearish and I expect it to close red at the end of the week. If you are currently holding short positions with the pair above, remain in the trade and pick your profits at 1.0697, however, in case you are flat, wait for another correction to the zone 1.1461-1.1418 then sell a bounce within it with your take profit at 1.0697 and stop loss at 1.1694. A further surge in price can be anticipated in case of a clear break below the level 1.0697, on the other hand, you can expect bullish movements of price in case of a clear breakout above the zone 1.1461-1.1418 with a big green candle.

Trade recommendation

Remain short with your take profit at 1.0697.

Imelda Maseno
Analyst of «FreshForex» company
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