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Remain short with your take profit at 1.0319.

Remain short with your take profit at 1.0319. | 20 April 2023

20 April 2023, EUR/USD

Remain short with your take profit at 1.0319.

Technical observation

On the chart above the price is trading with an increasing bearish bias below the supportive zone 1.1048-1.1094 and as long as the price is sustained below the zone I have mentioned above, I expect a continuation of this bearish movement, If you picked short positions within the zone mentioned above after a bounce, remain in the trade with your take profit at 1.0319 and stop-loss at 1.1366. In case of a clear break below the level 1.0319 with a big red candle, wait for a correction to the broken line before you continue short towards the supportive level 0.9533 or lower. On the chart above, I can only recommend bullish positions above the zone 1.1048-1.1094.

Trade recommendation

Remain short with your take profit at 1.0319.

Imelda Maseno
Analyst of «FreshForex» company
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