We are bearish towards 1.0319 | 25 May 2023
25 May 2023, EUR/USD
Technical observation
EUR retraced to the resistance zone 1.1048-1.1076 then bounced within it and since then it has been trading with an increasing bearish bias. Today I expect a continuation of this downwards movement and if you already picked short positions within the zone indicated above, I recommend you remain in the trade with your take profit at 1.0319 and stop-loss at 1.1328. Should there be a clear break below the level 1.0319 with a big red candle, I expect the value of this pair to plummet further towards the level 0.9533; on the other hand, in case of a break above the zone 1.1048-1.1076, I anticipate bullish movements towards 1.1679.
Trade recommendation
Remain short with your take profit at 1.0319.
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.
