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We are short within the zone 1.1053-1.0994

We are short within the zone 1.1053-1.0994 | 26 April 2023

26 April 2023, EUR/USD

We are short within the zone 1.1053-1.0994

Technical observation

On the weekly chart above, the price is trading with an increasing bullish bias within the resistance zone 1.1053-1.0994, and I expect a bounce within the same zone followed by a momentum to the lower side. My advice, sell EUR within the zone I have mentioned above with your take profit at 0.9532 and stop-loss at 1.1458. If there is a clear penetration below the level 0.9532, I expect the price to plunge further after a pullback to the broken line; however, if there is a clear break above the zone 1.1053-1.0994, I anticipate the value of this pair to ascend towards the resistance level 1.2461 or even higher to the line 1.5013.

Trade recommendation

Sell EUR within the zone 1.1053-1.0994 with your take profit at 0.9532.

Imelda Maseno
Analyst of «FreshForex» company
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