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We're neutral

We're neutral | 22 September 2021

22 September 2021, EUR/USD

We're neutral

Technical observation

For the past two consecutive weeks EUR has been trading with an increasing bearish bias and also since the beginning of this week, it has continued with the same trend. I expect a continuation of this bearish movement to the supportive zone 1.1665-1.1626 followed by either a rejection within it or a clear break below it with a big red candle. My advice, in case price is contained above the zone I have mentioned above, buy a bounce within it with your take profit at 1.2248 and stop loss at 1.1409, however, In case of a break below the same zone, wait for a correction to it and a rejection within it to short EUR towards 1.0826.

Trade recommendation

Remain neutral temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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