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We are flat

We are flat | 19 December 2022

19 December 2022, EUR/USD

Technical observation

On the chart above, price rose above the zone 1.0410-1.0367 and it is currently trading above it with an increasing bearish bias, this downwards movement is a correction to the zone indicated above and I expect a possible rejection of price within it. My advice, remain flat and wait for a correction to the zone I have mentioned above then buy a bounce within it with your take profit at 1.1123 and stop-loss at 1.0100. If there is a clear break above the level 1.1123 with a big green candle, I expect the value of this pair to rally further to the key level 1.1679 or even higher to the level 1.2353 after a correction to the broken line.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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