we are neutral | 11 May 2022

11 May 2022, EUR/USD

we are neutral

Technical observation

On the daily chart above price is trading with an increasing bullish bias between the supportive level 1.0334 and a resistance level 1.0771. My expectation is a continuation of this upwards movement to the resistance level I have mentioned above followed by a bounce at it to pick short positions with my take profit at 1.0334 and stop-loss at 1.0980. Should there be a clear penetration below the level 1.0334, I expect price to plummet further to the lower side, however, in case of a break above the key level 1.0771, I expect a surge to the resistance zone 1.1146-1.1127. Right now remaining neutral is ideal than picking any positions.

Trade recommendation

Remain flat.

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 .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus