Wait for a correction to the zone 1.0410-1.0367 | 08 Diciembre 2022

08 Diciembre 2022, EUR/USD

Technical observation

On the daily chart above, price did not rally to the lower side but instead rose above the resistance zone 1.0410-1.0367 and it is currently trading above the just broken zone with an increasing bullish bias. My expectation is a loss of this upwards movement followed by a correction to the zone indicated above and a bounce within it to pick bullish positions with my take profit at 1.1123 and stop-loss at 1.0159. A further surge to the upper side can be expected in case of a clear break above the level 1.1123; on the other hand, if price is not sustained above the zone 1.0410-1.0367, I expect it to plummet towards the supportive level 0.9596.

Trade recommendation

Wait for a correction to the zone 1.0410-1.0367 to buy EUR.

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.