We are bearish towards 1.0697 | 22 February 2022

22 February 2022, EUR/USD

We are bearish towards 1.0697

Technical observation

Last week the value of the pair on the weekly chart above declined with a big red candle and this week I expect a continuation of this bearish movement towards the supportive level 1.0697. If you picked short positions within the resistance zone 1.1461-1.1429 after a bounce, remain in the trade with your take profit at 1.0697 and stop loss at 1.1694. In case of a clear break below the supportive level 1.0697 with a big red candle, I expect price to plummet further to the lower side, on the flip side should there be a clear break above the zone I have mentioned above with a big green candle I anticipate a momentum to the upper side after retracement to the broken zone.

Trade recommendation

Remain short with your take profit at 1.0697.


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Imelda Maseno
Analyst of «FreshForex» company
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