15 November 2022, EUR/USD
Technical observation
EUR retraced to the resistance zone 1.0367-1.0325 but did not break above it instead it bounced within this zone and yesterday price traded with an increasing bearish bias. Today, I expect a continuation of this downwards movement and if you already picked short positions within the zone indicated above, I recommend that you remain in the trade with your take profit at 0.9596 and stop-loss at 1.0620. If there is a clear break below the level 0.9596 with a big red candle, I expect the value of this pair to plummet further after a pullback to the broken line, on the other hand in case of a break above the zone 1.0367-1.0325; I expect possible bullish movements of price.
Trade recommendation
Remain short with your take profit at 0.9596.
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