Remain flat. | 17 Octubre 2022

17 Octubre 2022, EUR/USD

Remain flat.

Technical observation

On the daily chart above price is trading with an increasing bearish bias slightly above the supportive level 0.9534 and my expectation is a decline to this line followed by either a clear break below it with a big red candle, or a rejection of price at it. If there is a rejection of price at the level mentioned above, I expect a correction to the resistance zone 1.0367-1.0325 to re-sell EUR with my take profit still at 0.9534 and stop-loss at 1.0585 and in case of a break below the level 0.9534, wait for a correction to it before you continue short with this pair, on the chart above, I can only recommend bullish positions in case of a break above the zone 1.0367-1.0325.

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.