Wait | 25 September 2023

25 September 2023, EUR/USD

Wait

Technical observation

EUR declined below a trend line as indicated on the chart above and since then it has been trading with an increasing bearish bias, today I expect either a further surge to the lower side or a loss of this downwards movement followed by a correction to the broken level. My advice, remain flat and wait for a pullback to the level 1.0797 then sell a bounce at it with your take profit at 1.0319 and stop-loss at 1.0923. In case there is a clear break below the level 1.0319, I expect the value of EUR to plunge further to the level 0.9533 or lower. On the chart above, I can only recommend bullish positions above the level 1.0797.

Trade recommendation

Remain neutral.


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Imelda Maseno
Analyst of «FreshForex» company
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