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Pick bullish positions within the zone 1.0410-1.0372

Pick bullish positions within the zone 1.0410-1.0372 | 02 March 2023

02 March 2023, EUR/USD

Technical observation

The value of the pair on the chart above price is trading with an increasing bearish bias slightly above the supportive 1.0410-1.0372, this bearish movement is a pullback to the zone I have indicated above and I expect a possible and rejection within it followed by a momentum to the upper side. My advice, remain flat and wait for a rejection within the zone I have mentioned above then buy a bounce within it with your take profit at 1.1123 and stop-loss at 1.0163. In case of a penetration above the level 1.1123 with a big green candle, continue long with this pair towards the upper 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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