Pick long positions within 1.1579-1.1576 | 03 Noviembre 2021

03 Noviembre 2021, EUR/USD

Technical Observation

On the hourly chart above, price retraced to a supportive zone it established at 1.1579-1.1576 and it is currently trading within it with an increasing bearish bias. My expectation is a loss of this bearish movement within the zone I have mentioned above followed a by a rally to the upper side. I would advise you pick long positions right now within the supportive zone 1.1579-1.1576 with your take profit at 1.1622 and stop loss at 1.1559. I case price rises and breaks above the level 1.1622 with a big green candle, I expect it to ascend further to the resistance line 1.1665, on the other hand in case of a clear break below the zone 1.1579-1.1576, I expect price to descend towards 1.1540.

Trade recommendation

Buy EUR within at 1.1579-1.1576 with you take profit at 1.1622.

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.