Short EUR within 1.2168-1.2159 | 07 June 2021

07 June 2021, EUR/USD

Short EUR within 1.2168-1.2159

Technical observation

On the weekly chart above, EUR declined and penetrated below a supportive zone it established at 1.2168-1.2159, it the retraced to the same zone and it was contained within it. As long as price is below this zone, I can only anticipate a surge to the lower side. Right now as it is on the chart above, within the zone 1.2168-1.2159 is the ideal place to pick short positions with your take profit at 1.1994 and stop loss at 1.2208. However, if price is not contained below the zone 1.2168-1.2159 and instead breaks above it with a big green candle; wait for a correction to the just broken zone confirming possible bullish movements of price before you buy EUR.

Trade recommendation

Short EUR within 1.2168-1.2159 with your take profit at 1.1994 and stop loss at 1.2208.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .