Remain flat temporarily. | 23 February 2023
23 February 2023, EUR/USD
Technical observation
On the daily chart above price is trading with an increasing bullish bias slightly above the supportive zone 1.0410-1.0372, this upwards movement is a slight momentum to the upper side and I expect a loss of it followed by a correction to the zone I have mentioned above. My advice, remain neutral and wait for a pullback to the zone 1.0410-1.0372 then buy EUR within it with your take profit at 1.1123 and stop-loss at 1.0162. If there is a clear break above the level 1.1123 with a big green candle, I expect a correction and a rejection at it followed by a further rally to the upper side towards the key levels 1.1697 and 1.2353.
Trade recommendation
Remain flat 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.
