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Remain short with your take profit at 0.9532.

Remain short with your take profit at 0.9532. | 08 February 2023

08 February 2023, EUR/USD

Remain short with your take profit at 0.9532.

Technical observation

Last Week the value of EUR declined with a big red candle and this week it also opened bearish; as long as price is contained below the resistance zone 1.0832-1.0891, I expect a further surge to the lower side. If you picked short positions within the zone I have indicated above, i recommend that you remain in the trade with your take profit at 0.9532 and stop-loss at 1.1229. In case of a penetration below the supportive level 0.9532, I expect the value of this pair to plummet further to the lower side after a correction to the broken level and a rejection at it. I can only recommend bullish positions above the zone 1.0832-1.0891.

Trade recommendation

Remain short with your take profit at 0.9532.

Imelda Maseno
Analyst of «FreshForex» company
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