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Wait | 25 September 2023

25 September 2023, EUR/USD

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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.

Imelda Maseno
Analyst of «FreshForex» company
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