We are bearish towards 1.0743. | 07 Agosto 2023

07 Agosto 2023, EUR/USD

We are bearish towards 1.0743.

Technical observation

EUR rose to the resistance zone 1.1245-1.1196 but did not break above it, instead it bounced within the same zone and since then it has been trading with an increasing bearish bias, today I anticipate a further surge to the lower side and in case you are already holding short positions with this pair, remain in the trade with your take profit at 1.0743 and stop-loss at 1.1528. If the price declines below the level 1.0743, remain short with EUR with your next take profit at 1.0319, on the other hand, in case of a clear break above zone 1.1245-1.1196, I expect the value of EUR to ascend towards the resistance level 1.2353.

Trade recommendation

Remain short with your take profit at 1.0743.

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.