Wait | 03 March 2023

03 March 2023, EUR/USD

Wait

Technical observation

On the 4 hour chart above, EUR is still pulling back to the resistance zone it established at 1.0779-1.0796 and I expect rise to the same zone followed by a possible rejection within it. My advice, remain flat and wait for a correction to the zone I have mentioned above then pick short positions within it with your take profit at 1.0461 and stop-loss at 1.876. If price beaks below the supportive level 1.0461 with a big red candle, I expect the value of this pair to plummet further towards the supportive levels 1.0094 and 0.9631. On the chart above as long as the price is sustained below the zone 1.0779-1.0796 I can only recommend short positions.

Trade recommendation

Wait for a correction to the zone 1.0779-1.0796 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus