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We are flat

We are flat | 13 September 2023

13 September 2023, EUR/USD

We are flat

Technical observation

EUR is trading with an increasing bullish bias slightly above level 1.0692 and I expect a continuation of this upwards movement towards the resistance zone 1.0922-1.0934 followed by either a rejection within it or a clear break above it with a big green candle. My advice, remain flat and wait for a correction to the zone mentioned above then sell a bounce within it with your take profit at 1.0692 and stop-loss at 1.1015. If there is a breach below the level 1.0692, I expect the value of this pair to plummet towards the supportive level 1.0496 or even lower, on the chart above, I can only recommend bullish positions above the zone 1.0922-1.0934.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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