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Wait | 21 April 2023

21 April 2023, EUR/USD

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Technical observation

The pair on the chart above is trading with an increasing bearish bias slightly above a trend line as indicated above, my expectation is either a rejection of this downwards movement at the same line or a clear break below it with a big red candle, if price bounces at the line, pick bullish positions at it with your take profit at 1.1074 and stop-loss at 1.0875. On the other hand, if there is a clear penetration below the lower trend line, on the chart above, wait for a pullback to it before you pick short positions towards the supportive level 1.0791 or lower to 1.0534. A further surge to the upper side can be expected in case of a break above the level 1.1074.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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