Wait for a correction to buy EUR | 02 September 2021

Technical observation

EUR I trading between a supportive zone 1.1775-1.1768 and a resistance level 1.1877 with an increasing bearish bias. This bearish movement is a retracement to the zone I have mentioned above and I expect a loss of it within the same zone for a rally to the upper side. My advice, remain neutral and wait for a correction to the zone 1.1755-1.1768 and buy a bounce within it with your take profit at 1.1877 and stop loss at 1.1734. In case of a clear breakout above the line 1.1877 with a big green candle, wait for a pullback to it and a rejection at it confirming a further surge to the upper side before you continue long with this pair.

Trade recommendation

Remain neutral.