Wait for a correction to the level 1.0920 to buy EUR. | 02 Febrero 2023

02 Febrero 2023, EUR/USD

Technical observation

On the hourly chart above, price broke above the resistance level 1.0920 then rose with a big green candle, currently it is still trading with an increasing bullish bias above the same level and despite this upwards movement I expect a correction to the level I have mentioned above followed by a rejection at it. My advice, remain neutral and wait for a pullback to the level 1.0920 then buy a bounce at it with your take profit at 1.1063 and stop-loss at 1.0887. If there is a clear break above 1.1063, I expect the value of EUR to ascend further, on the other hand, I expect bearish movement of price in case of a break below the level 1.0920.

Trade recommendation

Wait for a correction to the level 1.0920 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.