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Remain short with your take profit at 1.0240.

Remain short with your take profit at 1.0240. | 03 April 2023

03 April 2023, EUR/USD

Remain short with your take profit at 1.0240.

Technical observation

On the daily chart above, the price bounced within the resistance zone 1.0908-1.0863 and since then it has been trading with an increasing bearish bias, and as long as it is sustained below the zone I have mentioned above, I expect a continuation of this downwards movement. If you sold this pair within the zone I have indicated above, remain in the trade with your take profit at 1.0240 and stop-loss at 1.1158. In case of a clear break below the level 1.0240 with a big red candle, wait for a pullback and a bounce at it before you continue short with this pair towards the supportive level 0.9533 or lower.

Trade recommendation

Remain short with your take profit at 1.0240.

Imelda Maseno
Analyst of «FreshForex» company
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