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Remain long with your take profit at 1.0776.

Remain long with your take profit at 1.0776. | 12 January 2023

12 January 2023, EUR/USD

Remain long with your take profit at 1.0776.

Technical observation

On the chart above, price did not break below the supportive zone 1.0489-1.0463 but instead it bounced within it then rose up to the resistance level 1.0776. If you are currently holding bullish positions with the pair above, I recommend that you pick your profits now at the level 1.0776, should price break above the same level, wait for another correction and bounce at it before you continue long with EUR, on the other hand, if there is a rejection of price at the level 1.0776, wait for another pullback to the zone I mentioned earlier to re-buy EUR. I can only recommend short positions in case of a clear break below the zone 1.0489-1.0463.

Trade recommendation

Remain long with your take profit at 1.0776.

Imelda Maseno
Analyst of «FreshForex» company
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