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Remain short with your take profit at 1.0694

Remain short with your take profit at 1.0694 | 19 April 2022

19 April 2022, EUR/USD

Remain short with your take profit at 1.0694

Technical Observation

On the weekly chart above price has been trading with an increasing bearish bias for the past several weeks and currently it is rallying above a supportive level 1.0694. I expect either a loss of this downwards at the level mentioned above a clear breakout below it with a big green candle. If you are currently holding short positions with the pair above, I would advise that you remain in the trade with your take profit at 1.0694. In case of a break below the level 1.0694, wait for a pullback to it before you continue short with this pair. I can only recommend long positions in case of a clear penetration above the zone 1.1541-1.1495.

Trade recommendation

Remain short with your take profit at 1.0694.

Imelda Maseno
Analyst of «FreshForex» company
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