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Remain short towards 1.1632

Remain short towards 1.1632 | 01 April 2021

01 April 2021, EUR/USD

Technical observation

EUR is trading with an increasing bearish momentum above a supportive level 1.1632 and I expect this downwards movement to continue to the same level followed by either a clear breakout below it with a big red candle, or a bounce at it followed by a correction to the resistance zone 1.2011-1.1965. If you are currently short with this pair, remain in the trade with your take profit at 1.1632 and stop loss at 1.2117. If price penetrates below the line 1.1632 with a big red candle, wait for a correction to it and a bounce confirming further bearish movements before you pick short positions towards the lower supportive level 1.1172.

Trade recommendation

Remain short with your take profit at 1.1632.

Imelda Maseno
Analyst of «FreshForex» company
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