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We are short towards 1.0768

We are short towards 1.0768 | 11 April 2022

11 April 2022, EUR/USD

We are short towards 1.0768

Technical observation

On the daily chart above, price has been trading with an increasing bearish bias for several days now and I expect this downwards movement to continue up 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 1.1309. In case of a clear break below the level mentioned above, you can expect price to plummet further after a correction to the broken line, however, in case of a clear break above the zone 1.1160-1.1132, I expect a possible surge towards the resistance level 1.1483 after a correction and a rejection within the broken zone.

Trade recommendation

Remain short with your take profit at 1.0768.

Imelda Maseno
Analyst of «FreshForex» company
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