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Wait | 28 April 2023

28 April 2023, EUR/USD

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Technical observation

EUR is declining to a trend line as shown on the chart above and I expect either a bounce at the same level or a clear break below it with a big red candle. My advice, if the price is rejected at the level, pick bullish positions at it with your take profit at 1.1095 and stop-loss at 1.0967, on the other hand, should there be a clear break below the same level, wait for a second correction to it confirming a possible momentum to the lower side before you pick short positions with your take profit at 1.0836, If there is a clear penetration below the zone 1.0836-1.0823 with a big red candle, I expect the price to plummet further towards the supportive level 1.0534.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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