Remain bearish | 07 Julio 2023

07 Julio 2023, EUR/USD

Technical observation

EUR retraced to the resistance zone 1.1053-1.0994 but did not break above it, instead it bounced at the same zone and since then it has been trading with an increasing bearish bias. This week the price opened red and I expect it to descend further in the coming weeks. If you already picked short positions within the zone I mentioned earlier, remain in the trade with your take profit at 0.9532 and stop-loss at 1.1399. On the chart above, as long as the price is sustained below the zone 1.1053-1.0994, only short positions look ideal and can be recommended.

Trade recommendation

Remain bearish with your take profit at 0.9532.

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.