we are flat | 31 May 2022

31 May 2022, EUR/USD

we are flat

Technical observation

On the weekly chart above price has been trading with an increasing bullish bias for the past two consecutive weeks and this week I expect a continuation of this upwards movement towards the resistance zone 1.1541-1.1495. My advice, remain flat and wait for a correction to the zone I have indicated above to sell EUR with your take profit at 1.0405 and stop-loss at 1.1884. As long as price is sustained below the zone 1.1541-1.1495 I can only recommend short positions, however, in case of a clear break above the same zone with a big green candle, I expect bullish movements of price towards the level 1.2540.

Trade recommendation

Wait for a correction to the zone 1.1541-1.1495 to sell EUR.


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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