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Remain flat temporarily

Remain flat temporarily | 11 November 2022

11 November 2022, EUR/USD

Remain flat temporarily

Technical observation

Yesterday EUR rose with a big green candle but did not the resistance zone it established at 1.0366-1.0321 and today I expect a continuation of this bearish movement to the zone I have mentioned above followed by a bounce within it. My advice, remain flat temporarily then sell a bounce within the zone mentioned above with your take profit at 0.9534 and stop-loss at 1.0643. In case of a break below the level 0.9534, I expect the value of EUR to plummet further to the lower side m however, if there is a clear break above the zone 1.0366-1.0321, I expect possible bullish momentum towards the resistance level 1.1132.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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