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We are flat

We are flat | 20 July 2023

20 July 2023, EUR/USD

We are flat

Technical observation

On the chart above the price is pulling back to the supportive level 1.1094 and I expect a continuation of this downwards movement to the same level followed by a possible bounce within it. My advice, remain neutral and wait for a correction to the level I mentioned above then buy a bounce at it with your take profit at 1.1388 and stop-loss at 1.1019. If the price rises above the level 1.1388, I expect it to plummet further to the upper side after a correction to the broken line, on the other hand, I expect possible bearish movements towards the supportive zone 1.0848-1.0829 in case of a break below the level 1.1388.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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