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Wait | 28 September 2022

28 September 2022, EUR/USD

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Technical observation

EUR is trading with an increasing bullish bias above the supportive level 0.9549 and today I expect a continuation of this upwards movements towards the resistance level 0.9775. My advice, remain neutral and wait for a correction to the level 0.9775 then sell a bounce at it with your take profit at 0.9549 and stop-loss at 0.9880. If there is a clear break below the level 0.9549 with a big red candle, I expect the value of EUR to plummet further to the lower side, but in case of a clear break above the level 0.9775, I expect possible bullish movements of price towards the resistance zone 1.0107-1.0087, or even higher to the level 1.0347.

Trade recommendation

Remain neutral temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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