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Looking to buy within 1.0410-1.0372

Looking to buy within 1.0410-1.0372 | 10 February 2023

10 February 2023, EUR/USD

Technical observation

On the chart above price is trading with an increasing bearish bias between the supportive zone 1.0410-1.0372 and a resistance level 1.1123. This downwards movement is a correction to the zone i have indicated above and I expect a possible rejection within it followed by a rally to the upper side. My advice, remain flat and wait for a pullback to the zone 1.0410-1.0372 then buy a bounce within it with your take profit at 1.1123 and stop-loss at 1.0125. If there is a clear break above the level 1.1123 with a big green candle, I expect the value of EUR to ascend further towards the resistance levels 1.1679 and 1.2353.

Trade recommendation

Wait for a correction to the zone 1.0410-1.0372 to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
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