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We are flat

We are flat | 07 September 2023

07 September 2023, EUR/USD

Technical observation

EUR declined below the level 1.0797 and it is currently trading with an increasing bearish bias, today I expect a pullback to the broken line followed by a bounce at it, my advice, remain flat and wait for a correction to the level 1.0797 then sell a bounce at it with your take profit at 1.0244 and stop-loss at 1.1062. If there is a clear break below the level 1.0244 with a big red candle, I expect the value of this pair to plunge towards the supportive level 0.9533 or lower. As it is on the chart above, as long as the price is sustained below the zone 1.1523-1.1496 I can only recommend short positions for this pair.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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