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Looking to sell within 1.0482-1.0475

Looking to sell within 1.0482-1.0475 | 15 June 2022

15 June 2022, EUR/USD

Technical observation

On the chart above price is trading with an increasing bullish bias below the resistance zone it established at 1.0482-1.0475 and I anticipate a continuation of this upwards movement to the same zone followed by a bounce within it to pick short positions with my take profit at 1.0350 and stop loss at 1.0530. A further momentum to the lower side can be expected in case of a clear penetration below the level 1.0350 with a big red candle, on the other hand, if price clearly breaks above the zone I mentioned earlier, I expect a possible surge to the resistance level 1.0635 after a correction and a rejection within the broken zone.

Trade recommendation

Wait for a correction to the zone 1.0482-1.0475 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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