07 Octubre 2021, EUR/USD
Technical observation
EUR declined up to the supportive level 1.1529 but did not break below it, it bounced at the line and is currently trading with an increasing bullish bias. This upwards movement is a retracement to the resistance level 1.1641 and I expect a bounce at it for a rally to the lower side. My advice, remain flat and wait for a correction to the level 1.1641 and sell a bounce at it with your take profit at 1.1529 and stop loss at 1.1679. In case of clear break out below the supportive level 1.1529 with a big red candle, I expect the value of this pair to plummet further to the lower side; on the other hand I only anticipate bullish movements above the level 1.1641.
Trade recommendation
Remain flat.
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