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Place a pending sell limit order within 1.0105-1.0090

Place a pending sell limit order within 1.0105-1.0090 | 08 September 2022

08 September 2022, EUR/USD

Place a pending sell limit order within 1.0105-1.0090

Technical observation

EUR is trading with an increasing bullish bias slightly below the resistance zone 1.0105-1.0090 and today I expect a continuation of this upwards movement to the same zone followed by a rejection of price within it. My advice, remain flat temporarily and wait for a rise to the zone mentioned above then pick short positions within it after a bounce with your take profit at 0.9862 and stop-loss at 1.0171, in case this pair is not sustained below the zone I mentioned earlier but clearly penetrates above it with a big green candle, I expect the value of EUR to surge towards the resistance level 1.0347 or even higher to the level 1.0613.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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