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We are flat

We are flat | 09 January 2023

09 January 2023, EUR/USD

Technical observation

On the chart above price is trading with an increasing bullish bias slightly above the supportive zone it established at 1.0410-1.0367, however, I expect a loss of this upwards movement followed by a correction to the zone indicated above. My advice, remain neutral and wait for a pullback to the zone 1.0410-1.0367 then buy a bounce within it with your take profit at 1.1123 and stop-loss at 1.0126. If there is a clear break above the level 1.1123 with a big green candle, I expect price to ascend towards the key level 1.16779 or even higher to the level 1.2353. As long as EUR is sustained above the zone 1.0410-1.0367, I can only recommend bullish positions.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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