Looking to buy within 1.1075-1.1048 | 24 July 2023

24 July 2023, EUR/USD

Looking to buy within 1.1075-1.1048

Technical observation

On the chart above, the price rose above the zone 1.1075-1.1048 with a big green candle and for some time now it has been trading with an increasing bearish bias, this downwards movement is a pullback to the zone indicated above and I expect a rejection within it followed by a surge to the upper side. My advice, remain neutral and wait for a correction to the zone I have mentioned above then buy a bounce within it with your take profit at 1.1679 and stop-loss at 1.0830. If there is a break above the level 1.1679, I expect the value of this pair to ascend further towards the resistance level 1.2353.

Trade recommendation

Wait for a pullback to the zone 1.1075-1.1048 to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
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