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Wait for a correction to the zone 1.0410-1.0367

Wait for a correction to the zone 1.0410-1.0367 | 28 Diciembre 2022

28 Diciembre 2022, EUR/USD

Wait for a correction to the zone 1.0410-1.0367

Technical observation

EUR is trading with an increasing bullish bias slightly above the supportive zone 1.0410-1.0367 and I expect a loss of this upwards movement followed by a pullback to the zone I mentioned earlier, however, price could possibly continue upwards towards the resistance level 1.1123 and If this is the case, I expect a rejection at it followed by a retracement to the zone 1.0410-1.0367. My advice, remain flat and wait for a correction to the zone I have indicated above then buy a bounce within it with your take profit at 1.1123 and stop-loss at 1.0125. A further momentum to the upper side can be expected in case of a break above the level 1.1123.

Trade recommendation

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

Imelda Maseno
Analyst of «FreshForex» company
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