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Wait | 27 July 2023

27 July 2023, EUR/USD

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Technical observation

EUR broke above the zone 1.1048-1.1075 then pulled back to the same zone but could not break below it and as long as it is sustained above this zone, I expect it to plummet even further to the upper side. My advice, remain flat and wait for a second correction to the zone I mentioned earlier to buy EUR with your take profit at 1.1679 and stop-loss at 1.0803. If there is a clear break above the level 1.1679, I expect the price to ascend further towards the resistance level1.2353 or higher. If EUR is not sustained above the zone 1.1048-1.1075, but clearly breaks it, you can anticipate a possible surge towards the key level 1.0319.

Trade recommendation

Wait for a second correction to the zone 1.1048-1.1075 to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
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