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Remain flat

Remain flat | 31 August 2021

31 August 2021, EUR/USD

Remain flat

Technical observation

EUR is trading with an increasing bullish bias between a supportive level 1.1626 and a resistance zone 1.1986-1.1963, this bullish movement is a retracement to the zone I have mentioned above and I expect it to continue to the same zone followed by a rejection within it for a momentum to the lower side. My advice, remain neutral and a wait for a correction to the zone I have mentioned above and a sell a bounce within it with your take profit at 1.1626 and stop loss at 1.2127 In case of a clear penetration below the level 1.1626 with a big red candle, I expect a further surge to the lower side towards the supportive level 1.1336.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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