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Wait for a pullback to sell EUR

Wait for a pullback to sell EUR | 23 September 2020

23 September 2020, EUR/USD

Wait for a pullback to sell EUR

Technical observation

EUR declined up to a supportive zone and then penetrated below it with a big red candle. This pair is still trading with an increasing bearish momentum however; I expect a correction to the just broken zone and a bounce at it to sell EUR with my take profit at 1.1453 and stop loss at 1.1808. In case of a clear breakout below the line 1.1453 with a big red candle, wait for a correction to the line and a bounce at it confirming further bearish rally before you continue short with this pair towards the lower supportive zone marked at 1.1150-1.1152. On your way downwards, the key levels to look for include 1.0897 and a 1.0660.

Trade recommendation

Wait for a pullback to the zone 1.1721-1.1697.

Imelda Maseno
Analyst of «FreshForex» company
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