08 Junio 2023, EUR/USD
Technical observation
On the daily chart above, the price retraced and bounced within the resistance zone it established at 1.1048-1.1075 and since then it has been trading with an increasing bearish bias. Today I expect it to plummet further and in case you are already holding short positions with this pair, I recommend that you remain bearish with your take profit at the supportive level 1.0403 and stop-loss at 1.1366. If the price clearly breaks below the line 1.0403 with a big red candle, you can expect the value of this pair to descend further after a pullback to the broken line followed by a rejection at it.
Trade recommendation
Remain short with your take profit at 1.0403.
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