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We're short within 1.0036-1.0026

We're short within 1.0036-1.0026 | 20 September 2022

20 September 2022, EUR/USD

Technical observation

EUR retraced to the resistance zone it established at 1.0036-1.0026 and currently it is trading with an increasing bullish bias within the same zone. My expectation is a loss of this upwards movement within the same zone followed by a surge to the lower side. My advice, sell a bounce within the zone mentioned above with your take profit at 0.9876 and stop-loss at 1.0076. If there is no bounce within the zone indicated above but a clear penetration above it with a big green candle, I expect price to ascend towards the resistance level 1.0191 or even higher to the key level 1.0364.

Trade recommendation

Sell EUR within 1.0036-1.0026 with your take profit at 0.9876.

Imelda Maseno
Analyst of «FreshForex» company
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