01 Octubre 2020, EUR/USD
Technical observation
EUR did not rally steadily downwards as expected yesterday. Price went downwards but not for long, however, it is still trading with an increasing bullish bias within the resistance zone and despite the current bullish movement, I anticipate bearish rally towards the supportive level 1.1453 followed by a clear breach below it with a big red candle for a further decline towards the supportive zone 1.1150-1.1131. A penetration below the supportive zone mentioned above could lead to a further surge in the value of this pair towards the lower supportive level marked at 1.0698 or even lower to 1.0660. Right bow remain short.
Trade recommendation
Remain short with your take profit at 1.1453.
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