Wait | 19 January 2023
19 January 2023, EUR/USD
Technical observation
On the chart above price is trading with an increasing bearish bias between the supportive zone 1.0410-1.0367 and a resistance level 1.1123. This bearish movement is a correction to the zone I have mentioned above and I expect a rejection of price within it followed by a surge to the upper side. My advice, remain neutral and wait for a correction to the zone 1.0410-1.0367 then buy a bounce within it with your take profit at 1.1123 and stop-loss at 1.0122. If there is a clear break above the level 1.1123 with a big green candle, I expect the value of this pair to ascend further towards the upper resistance levels 1.1679 and 1.2353.
Trade recommendation
Remain neutral.
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.
