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Looking to sell within the zone 1.0832-1.0891

Looking to sell within the zone 1.0832-1.0891 | 24 March 2023

24 March 2023, EUR/USD

Looking to sell within the zone 1.0832-1.0891

Technical observation

On the weekly chart above the price is trading with an increasing bullish bias within the zone 1.0832-1.0891 and I expect a possible rejection within it followed by a surge to the lower side. My advice, place a pending sell limit order now within the zone 1.0832-1.0891 with your take profit at 0.9532 and stop-loss at 1.1258. If there is a clear break below the level 0.9532 with a big red candle, I expect the value of EUR to descend further after a correction to the broken line, on the chart above, as long as the price is sustained below the zone 1.0832-1.0891, only short positions look ideal and can be recommended.

Trade recommendation

Sell EUR within the zone 1.0832-1.0891 with your take profit at 0.9532.

Imelda Maseno
Analyst of «FreshForex» company
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