10 January 2023, EUR/USD
Technical observation
On the chart above, price opened bullish within the resistance zone it established at 1.0759-1.0696 and I expect a rejection of this upwards movement within the same zone followed by a momentum to the lower side. My advice, sell a bounce within the zone I have indicated above with your take profit at 0.9532 and stop-loss at 1.1183. If there is a clear break below the level 0.9532 with a big red candle, I expect the value of this pair to plummet further to the lower side, on the other hand should there be a clear break above the zone I mentioned earlier, I expect price to ascend towards the key level 1.2258 or even higher to 1.5013.
Trade recommendation
Sell a bounce within the zone 1.0759-1.0696 with your take profit at 0.9532.
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