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We are short towards 0.9532

We are short towards 0.9532 | 07 March 2023

07 March 2023, EUR/USD

We are short towards 0.9532

Technical observation

Last Week EUR rose with a big green candle and this week it also opened bullish, this upwards movement is a slight correction to the resistance zone 1.0832-1.0891 and I expect a loss of it followed by a surge to the lower side. My advice, if you are currently holding short positions with this pair, I recommend that you remain in the trade with your take profit at 0.9532 and stop-loss at 1.1252. If there is a clear break below the level 0.9532, I expect the value of EUR to decline further after a pullback to the broken line, on the other hand, should there be a clear break above the zone I mentioned earlier, I expect the price to rise towards 1.2258.

Trade recommendation

Remain short with your take profit at 0.9532.

Imelda Maseno
Analyst of «FreshForex» company
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