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Remain short

Remain short | 27 June 2023

27 June 2023, EUR/USD

Technical observation

On the chart above the price is trading with an increasing bearish bias below the resistance zone 1.1053-1.0994 and as long as it is sustained below this zone I expect a further surge to the lower side. If you sold this pair within the zone indicated above, remain in the trade with your take profit at 0.9532 and stop-loss at 1.1458, should there be a clear break below the level 0.9532, wait for a correction and a rejection at it before you continue short with this pair, on the weekly chart above, I can only recommend bullish positions in case of a clear penetration above the resistance zone 1.1053-1.0994.

Trade recommendation

Remain short with your take profit at 0.9532.

Imelda Maseno
Analyst of «FreshForex» company
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