Looking to sell within 1.0269-1.0232 | 01 August 2022

01 August 2022, EUR/USD

Looking to sell within 1.0269-1.0232

Technical observation

On the 4-hour chat above price is trading with an increasing bullish bias below a resistance zone 1.0269-1.0232 and i expect a loss of this upwards movement within the same zone followed by possible momentum to the lower side. My advice, remain flat temporarily and pick short positions within the zone I have mentioned above after a bounce with your take profit at 0.9988 and stop-loss at 1.0379. In case of a clear break below the level 0.9988 with a big red candle, I expect the price to decline further after a correction to the broken line. I can only recommend bullish positions in case of a break above zone 1.0269-1.0232.

Trade recommendation

Place a pending sale order within the zone 1.0269-1.0232 with your take profit at 0.9988.

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 .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus