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Remain neutral temporarily.

Remain neutral temporarily. | 28 February 2023

28 February 2023, EUR/USD

Remain neutral temporarily.

Technical observation

On the daily chart above price is trading with an increasing bullish bias slightly above the supportive zone it established at 1.0410-1.0372, this upwards movement is a slight rally to the upper side and I expect a correction to the zone I have mentioned above followed by a possible bounce within it. My advice, remain flat and wait for a correction to the 1.0410-1.0372 then buy a bounce within it with your take profit at 1.1123 and stop-loss at 1.0161. If there is a clear break above the level 1.1123 with a big green candle, I expect the value of this pair to ascend further towards the resistance levels 1.1679 and 1.2353.

Trade recommendation

Remain neutral temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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