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Buy abreak above 1.22481 or wait and sell a rejection from 1.22481 to pick a sell towards 1.19201.

Buy abreak above 1.22481 or wait and sell a rejection from 1.22481 to pick a sell towards 1.19201. | 01 Junio 2021

01 Junio 2021, EUR/USD

Technical Observation

On the weekly chart attached, Euro is currently approaching a significant weekly resistance zone 1.22481-1.22218. As long as the price remains below this zone, this remains to be a good place to consider a possible long term sell position. Ideally, we want to see a breakout above 1.22481 to pick a possible long term buy position expecting the price to extend much higher with the next ideal target set at 1.24160. A rebound from 1.22481 will attract a sell towards 1.19201.

Trade Recommendations:

Buy a break above 1.22481 or wait and sell a rejection from 1.22481 to pick a sell towards 1.19201.

Imelda Maseno
Analyst of «FreshForex» company
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