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Remain flat.

Remain flat. | 07 November 2022

07 November 2022, EUR/USD

Remain flat.

Technical observation

On the daily chart above price is trading with an increasing bullish bias slightly above the supportive level 0.9596, this upwards movement is a correction to the zone 1.0367-1.0325 and my expectation is either a rejection of price within this zone or a clear break above it with a big green candle. If there is a bounce within this zone, pick short positions within it with your take profit at 0.9596 and stop-loss at 1.0618, on the other hand, in case of a clear break above the zone with a big green candle, wait for a pullback and bounce at it confirming a possible surge to the other side before you pick long positions towards the level 1.1122.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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