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Remain short with your take profit at 1.0240.

Remain short with your take profit at 1.0240. | 10 April 2023

10 April 2023, EUR/USD

Technical observation

EUR bounced within the resistance zone 1.0985-1.0953 and it is currently trading with an increasing bearish bias, if you picked short positions within the zone I have mentioned above, remain in the trade with your take profit at 1.0240 and stop-loss at 1.1218. Should price decline below the level 1.0240 with a big red candle. I anticipate a pullback to the broken line and a bounce at it followed by a rally to the lower side towards the level 0.9533, contrary, in case of a break above the zone 1.0985-1.0953; I expect possible bullish movements towards the resistance level 1.1679 or even higher to the level 1.2353.

Trade recommendation

Remain short with your take profit at 1.0240.

Imelda Maseno
Analyst of «FreshForex» company
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