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Wait for a correction to buy EUR

Wait for a correction to buy EUR | 13 September 2022

13 September 2022, EUR/USD

Technical observation

Yesterday EUR did not decline as I has expected, instead it rose above the zone 1.0105-1.0090 with a big green candle and hit my stop-loss then rallied downwards , however, this bearish movement was sustained above the zone I mentioned earlier and as long as price remains above this zone I expect possible bullish movements of price. My advice, remain neutral and wait for a second correction to the zone mentioned above to pick long positions with you take profit at 0.9862 and stop-loss at 1.0014. In case of a clear break above the level 1.0347 continue long towards the resistance level 1.0613 after a pullback to the broken line.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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