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Sell EUR within 0.9880-0.9861

Sell EUR within 0.9880-0.9861 | 24 October 2022

24 October 2022, EUR/USD

Sell EUR within 0.9880-0.9861

Technical observation

EUR retrace to the resistance zone it established at 0.9880-0.9861 and it is currently trading with an increasing bullish bias within this zone; I expect either a rejection of this upwards movement within this zone or a clear break above it with a big green candle. In case of a bounce within the zone mentioned above, pick short positions within it with your take profit at the supportive level 0.9536 and stop-loss at 0.9949, however, if there is a clear break above this zone, wait for a correction and a rejection at the broken line before you pick bullish positions towards the resistance level marked at 1.0107 or even higher to 1.0347.

Trade recommendation

Sell EUR within 0.9880-0.9861 with your take profit at 0.9536.

Imelda Maseno
Analyst of «FreshForex» company
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