We're flat | 23 Agosto 2021

23 Agosto 2021, EUR/USD

Technical observation

On the weekly chart above EUR is retracing to a supportive zone it established at 1.1605-1.1571 and I expect a rejection of this bearish movement within the same zone for a momentum to the upper side. My advice, remain neutral temporarily with this pair and buy a bounce within the supportive zone 1.1605-1.1571 with your take profit at 1.2248 and stop loss at 1.1383. In case price is not sustained above the zone 1.1605-1.1571 and instead it clearly penetrates below it with a big red candle, I expect a possible surge to the lower side after a retracement to the just broken zone. Right now I can only recommend bullish positions.

Trade recommendation

Remain neutral.

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.