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Sell EUR within the zone 1.1053-1.0994

Sell EUR within the zone 1.1053-1.0994 | 16 June 2023

16 June 2023, EUR/USD

Sell EUR within the zone 1.1053-1.0994

Technical observation

On the chart above, the price opened bullish and it has been rallying towards the resistance zone 1.1053-1.0994, I expect a possible bounce within this zone followed by a rally to the lower side. My advice, remain flat and wait for a bounce within the zone indicated above to sell EUR with your take profit at 0.9532 and stop-loss at 1.1458. If there is a clear break below the level 0.9532, I expect the value of this pair to plummet further after a correction to the broken line; on the other hand, if there is a break above the zone 1.1053-1.0994, I expect a surge to the resistance level 1.2461 or higher to 1.5013.

Trade recommendation

Sell EUR within the zone 1.1053-1.0994 with your take profit at 0.9532.

Imelda Maseno
Analyst of «FreshForex» company
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