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Looking to sell at 1.0800

Looking to sell at 1.0800 | 28 September 2023

28 September 2023, EUR/USD

Looking to sell at 1.0800

Technical observation

On the chart above the price declined below a lower trend line as indicated and since then it has been trading with an increasing bearish bias, however, I expect a loss of this downwards movement followed by a correction to a level 1.0800, My advice, remain neutral and wait for a pullback to the level I have mentioned above then sell a bounce at it with your take profit at 1.0319 and stop-loss at 1.1065. If there is a clear decline below the supportive level 1.0319 with a big red candle, I expect the value of this pair to plunge towards 0.9533 or lower. As it is on the chart above, I can only recommend bullish positions in case of a break above the zone 1.1523-1.1496.

Trade recommendation

Wait for a retracement to the level 1.0800 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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