Wait for a correction to sell EUR. | 17 Octubre 2023

17 Octubre 2023, EUR/USD

Wait for a correction to sell EUR.

Technical observation

On the chart above the price is still trading with an increasing bearish bias between a supportive level 1.0319 and a resistance zone 1.0770-1.0795, this downwards movement is a slight rally to the lower side and I expect a loss of it followed by a correction to the zone I have mentioned above. If you are flat with this pair, I recommend that you remain neutral and wait for a correction to the zone 1.0770-1.0795 then sell a bounce within it with your take profit at 1.0319 and stop-loss at 1.0925. In case of a break below the level 1.0319, wait for a retracement to this line before you continue short towards 0.9533 or lower.

Trade recommendation

Wait for a correction to the zone 1.0770-1.0795 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.