we are flat | 27 July 2022

27 July 2022, EUR/USD

we are flat

Technical observation

On the hourly chart above price declined as I had expected up to a supportive zone it established at 1.0115-1.-0122 and right now it is trading with an increasing bullish bias within the same zone. Today I expect a further surge towards the resistance level 1.0268 and I would suggest that you wait for a pullback to it to pick short positions with your take profit at 1.0122 and stop-loss at 1.0048. I can only recommend bullish positions in case of a clear breakout above the level 1.0268, and if there is a penetration below the key line 1.0115, I expect EUR to descend towards the lower supportive level 0.9952.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .