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Expecting a surge to 1.0942.

Expecting a surge to 1.0942. | 22 December 2022

22 December 2022, EUR/USD

Technical observation

EUR rose above the level 1.0591 and for several days it has been stagnating above this level, as long as price is sustained above the same level, I expect it to rally to the upper side and in case you picked bullish positions at the level 1.0591 after a bounce my advice is, remain long with your take profit at 1.0942 and stop-loss at 1.0457. Should there be a clear break above the level 1.0942, I expect this pair to surge further to the upper side; on the other hand, in case of a clear break below the level 1.0591, I expect bearish positions towards the supportive levels 1.0199-1.0219, 0.9857 and the lower level 0.9539.

Trade recommendation

Remain long with your take profit at 1.0942.

Imelda Maseno
Analyst of «FreshForex» company
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