29 September 2020, EUR/USD
Technical observation
EUR is approaching the resistance zone 1.1744-1.1715 and I expect a rejection at it to sell this pair with my take profit at 1.1453 and stop loss at 1.1847. My advice, wait for a correction to the above-mentioned zone and a bounce within it to sell EUR. Should there be a clear breach below the line 1.1453 with a big red candle, you can anticipate a further decline in the value of this pair towards the supportive zone 1.1150-1.1131. This can be followed by either a clear breakout below it with a big red candle for further bearish rally towards 1.0897 or a rejection within the zone followed by a correction to 1.1453.
Trade recommendation
Sell a bounce within 1.1744-1.1715 with your take profit at 1.1453.
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