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Wait | 04 April 2023

04 April 2023, EUR/USD

Technical observation

On the chart above the price rose to the resistance level 1.0929 then bounced at it and since then it has been trading with an increasing bearish, today I expect a continuation of this downwards movement to the supportive zone 1.0757-1.0749 followed by either a rejection within it or a clear break below it with a big red candle. My advice, remain neutral and wait for a pullback to the zone mentioned above then buy a bounce within it with your take profit at 1.0929 and stop-loss at 1.0703. If there is a clear break above the level 1.0929, I expect the value of the pair to ascend further after a pullback to the broken level.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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