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We are flat

We are flat | 23 December 2022

23 December 2022, EUR/USD

We are flat

Technical observation

On the chart above EUR rose above the zone 1.0410-1.0367 and it is currently trading with an increasing bearish bias above it, this downwards movement is a correction to the zone I have mentioned above and I expect a rejection within it followed by a momentum to the upper side. 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 1.0122. 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 towards the resistance levels 1.1679 or even higher to the level 1.2353.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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