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Looking to buy within 1.0477-1.0462

Looking to buy within 1.0477-1.0462 | 06 January 2023

06 January 2023, EUR/USD

Technical observation

On the chart above price is trading with an increasing bearish bias slightly above the supportive zone 1.0477-1.0462 and I expect it to continue to the same zone then bounce within it. My advice, remain neutral and wait for a correction and a bounce within the zone I have mentioned above then pick bullish positions within it with your take profit at 1.0737 and stop-loss at 1.359. If there is a clear break above the level 1.0732 with a big green candle, I expect the value of this pair to surge further to the upper side, on the other hand, in case of a break below the zone 1.0477-1.0462, you can expect EUR to plummet towards the supportive level 1.0225.

Trade recommendation

Remain neutral temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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