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Sell EUR within the zone 1.0832-1.0891

Sell EUR within the zone 1.0832-1.0891 | 28 March 2023

28 March 2023, EUR/USD

Technical observation

On weekly chart above the price is trading with an increasing bullish bias below the resistance zone 1.0832-1.0891, I expect a loss of this upwards movement within the same zone followed by a surge to the lower side. My advice, remain neutral temporarily and wait for a bounce within the zone I have mentioned above to sell EUR with your take profit at 0.9532 and stop-loss at 1.1255. I expect a further surge to the lower side in case of a clear break below the level 0.9532; on the other hand, in case of a break above the zone 1.0832-1.0891, I expect possible bullish movements of price towards the resistance level 1.2564.

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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