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Wait for a correction to sell EUR

Wait for a correction to sell EUR | 23 November 2022

23 November 2022, EUR/USD

Wait for a correction to sell EUR

Technical observation

Last week I anticipated a possible rally towards the resistance zone 1.0759-1.0696 however, price went down and this week it also opened bearish. This downwards movement is a slight rally to the lower side and I still expect possible bullish movement of price towards the zone indicated above followed by a either a rejection of price within it or a clear break above the same zone with a big green candle. My advice, remain neutral temporarily and wait for a pullback to the zone mentioned above then sell a bounce within it with your take profit at 0.9532 and stop-loss at 1.1188. I can only recommend bullish positions above the zone 1.0759-1.0696.

Trade recommendation

Wait for a correction to the zone 1.0759-1.0696 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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