Looking to buy within 1.0477-1.0462 | 06 January 2023
06 January 2023, EUR/USD
Technical observation
On the chart above price is trading with an increasing bearish bias slightly above the supportive zone 1.0477-1.0462 and I expect it to continue to the same zone then bounce within it. My advice, remain neutral and wait for a correction and a bounce within the zone I have mentioned above then pick bullish positions within it with your take profit at 1.0737 and stop-loss at 1.359. If there is a clear break above the level 1.0732 with a big green candle, I expect the value of this pair to surge further to the upper side, on the other hand, in case of a break below the zone 1.0477-1.0462, you can expect EUR to plummet towards the supportive level 1.0225.
Trade recommendation
Remain neutral temporarily.
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.
