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we are short

we are short | 27 September 2023

27 September 2023, EUR/USD

we are short

Technical observation

Since it bounced within the zone 1.1178-1.1232, EUR has been trading with an increasing bearish bias and this week it also opened bearish. I expect a continuation of this bearish movement and in case you are already holding short positions with this pair, remain in the trade with your take profit at 0.9532 and stop-loss at 1.1610, if the price penetrates below the level 0.9532, wait for a correction to the broken line before you continue short with this pair, but if there is a clear break above the zone I mentioned earlier, I anticipate possible bullish movements of price towards the key levels 1.2452, 1.3987 or even higher to 1.5135.

Trade recommendation

Remain short with your take profit at 0.9532.

Imelda Maseno
Analyst of «FreshForex» company
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