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Expecting a rally to 0.9876

Expecting a rally to 0.9876 | 21 September 2022

21 September 2022, EUR/USD

Expecting a rally to 0.9876

Technical observation

Yesterday price bounced within the resistance zone 1.0029-1.0026 as I had predicted and since then it has been trading with an increasing bearish momentum; today I expect a further surge to the lower side. My advice, if you sold this pair within the zone indicated above and you are currently holding bearish positions, remain in the trade with your take profit at 0.9876 and stop-loss at 1.0076. A further surge to the lower side can be expected in case of a clear break below the level 0.9876, on the other hand, I expect bullish movements of price in case of a clear break above the zone 1.0029-1.0026 followed by a rejection within it.

Trade recommendation

Remain short with your take profit at 0.9876.

Imelda Maseno
Analyst of «FreshForex» company
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