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Remain short

Remain short | 15 September 2023

15 September 2023, EUR/USD

Remain short

Technical observation

Since it bounced within the resistance zone 1.0934-1.0922 EUR has been trading with an increasing bearish bias, today I expect a further surge to the lower side and in case you are already holding short positions, I recommend that you remain in the trade with your take profit at 1.0496 and stop-loss at 1.1042. If there is a clear break below the level 1.0496 with a big red candle, I expect the value of this pair to descend even further towards 1.0093 after a correction to the line, on the other hand, should there be a clear break above the zone 1.0934-1.0922, I anticipate possible bullish movements of price towards the level 1.1262.

Trade recommendation

Remain short with your take profit at 1.0496.

Imelda Maseno
Analyst of «FreshForex» company
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