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We are flat

We are flat | 06 October 2023

06 October 2023, EUR/USD

Technical observation

On the chart above, the price has been trading with an increasing bullish bias for the past two consecutive days and today I expect a continuation of this upwards movement towards the resistance zone 1.0770-1.0795. My advice, remain neutral and wait for a pullback to the zone I have mentioned above then sell EUR within it with your take profit at 1.0319 and stop-loss at 1.0985, if the value of this pair penetrates below the level 1.0319 with a big red candle, I recommend you remain neutral and wait for a correction to the broken line before you continue short towards the supportive level 0.9533 or lower.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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