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we are flat.

we are flat. | 11 September 2023

11 September 2023, EUR/USD

Technical observation

On the chart above the value of EUR declined below the level 1.0767 as indicated and it is currently trading with an increasing bullish bias. This upwards movement is a correction to the just broken line and I expect a possible rejection at it followed by a momentum to the lower side. My advice, remain flat and wait for a second retracement to the level 1.0767 to sell EUR with your take profit at 1.0319 and stop-loss 1.1015. If there is a clear break below the level 1.0319 with a big red candle, continue short with this pair towards the level 0.9533 or lower. As long as EUR is sustained below the level 1.0767, I can only recommend short positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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