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We are bearish towards 1.0670.

We are bearish towards 1.0670. | 18 August 2023

18 August 2023, EUR/USD

Technical observation

EUR has been trading with an increasing bearish bias for the past three consecutive days and today I anticipate a further surge to the lower side, if you are holding short positions with this pair, I recommend that you remain in the trade with your take profit at 1.0670 and stop-loss at 1.1496, if the price declined below the level 1.0670 with a big red candle, I expect the value of this pair to plummet further towards the supportive levels 1.0319 and 0.9533, on the other hand, should the price rise above the resistance zone 1.1496-1.1523, I anticipate possible bullish momentum towards the key levels 1.2353.

Trade recommendation

Remain short with your take profit at 1.0670.

Imelda Maseno
Analyst of «FreshForex» company
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