Expecting a surge towards 1.0319 | 17 May 2023

17 May 2023, EUR/USD

Technical observation

On the chart above, the price retraced to the resistance zone it established at 1.1048-1.1035 then bounced within it and since then it has been trading with an increasing bearish bias. Today I expect a further surge to the lower side and in case you already picked short positions within the zone indicated above, I recommend that you remain in the trade with your take profit at 1.0319 and stop-loss at 1.1366. If there is a clear break below the level 1.0319 with a big red candle, I expect the value of this pair to plummet towards the supportive level 0.9533 after a pullback to the broken line.

Trade recommendation

Remain short with your take profit at 1.0319.

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.