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We are neutral.

We are neutral. | 26 October 2022

26 October 2022, EUR/USD

Technical observation

On the chart above price broke above a resistance zone 0.9863-9848 and then rose steadily and currently it is trading with an increasing bullish bias; I expect a continuation of this upwards movement to the key level 1.0107 followed by a rejection at it. My advice, wait for a second correction to the zone indicated above then buy a bounce within it with your take profit at 1.0107 and stop-loss at 0.9753, if there is a clear break above the level 1.0107 with a big green candle, I expect the value of the pair above to ascend further towards the key level 1.0347, however, in case of a break below the zone 0.9863-0.9848, I expect bearish movements of price.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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