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We are short towards 1.0319

We are short towards 1.0319 | 30 May 2023

30 May 2023, EUR/USD

We are short towards 1.0319

Technical observation

On the chart above the price rose to the resistance zone 1.1048-1.1075 but did not break above it, instead it bounced within the same zone and since then it has been trading with an increasing bearish bias, today I expect a further surge to the lower side and if you are already holding short positions with this pair, I recommend you remain in the trade with your take profit at 1.0319 and stop-loss at 1.1362. In case of a clear break below the level 1.0319, wait for a correction to the broken line and a bounce at it before you continue short with this pair towards the level 0.9533 or lower.

Trade recommendation

Remain short with your take profit at 1.0319.

Imelda Maseno
Analyst of «FreshForex» company
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