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We are bullish towards 1.1373.

We are bullish towards 1.1373. | 17 Diciembre 2021

17 Diciembre 2021, EUR/USD

Technical observation

Just as i had predicted yesterday, EUR ascended towards the resistance level 1.1373 and currently it is trading slightly below it with a big green candle. I expect a continuation of this upwards movement to the level 1.1373 followed by a clear break above it with a big green candle, however there is still a chance of a bounce at the same level. If you are currently holding long positions with this pair, remain in the trade with your take profit at 1.1373 and stop loss at 1.1185. If price breaks above the resistance 1.1373 with a big green candle, wait for a second retracement to the just broken line before you continue long towards 1.1518.

Trade recommendation

Remain long with your take profit at 1.1373.

Imelda Maseno
Analyst of «FreshForex» company
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