We're flat temporarily | 19 Julio 2021

19 Julio 2021, EUR/USD

Technical observation

On the weekly chart above price is trading with an increasing bearish bias above the supportive zone it established at 1.1752-1.1715, this bearish movement is a retracement to the zone I have mentioned above and I expect a loss of it within the same zone for a possible momentum to the upper side. In case price is not sustained above the supportive zone 1.1752-1.1715 and instead it penetrates below it with a big red candle, I expect the value of this pair to plummet to the supportive level 1.1175 after a retracement to the just broken zone. Right now remaining neutral with this pair is ideal than picking any position.

Trade recommendation

Remain neutral temporarily.

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.