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Remain flat.

Remain flat. | 11 April 2023

11 April 2023, EUR/USD

Remain flat.

Technical observation

On the 4 hour chart above, the price is trading with an increasing bullish bias between the supportive zone 1.0778-1.0789 and a resistance level 1.1034, I expect a loss of this upwards movement followed by a correction to the zone I have mentioned above and my advice is, remain neutral and wait for a pullback to the zone 1.0778-1.0789 then buy a bounce within it with your take profit at 1.1034 and stop-loss at 1.0712. If there is a clear break above the level 1.1034, I expect the value of EUR to rally further to the upper side; on the other hand, in case of a break below the zone 1.0778-1.0789, I anticipate possible bearish movements of price.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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