Looking to sell within 1.1883-1.1829 | 09 September 2021
09 September 2021, EUR/USD
Technical observation
On the hourly chart above, price is trading with an increasing bullish bias below a resistance zone 1.1883-1.1829. This bullish movement is a retracement to the zone I have mentioned above and I expect a loss of it within the same zone for a momentum to the upper side. My advice, remain neutral temporarily and wait for a correction and rejection within the zone I have mentioned above to buy EUR with your take profit at 1.1782 and stop loss at 1.1854. On the chart above, as long as price is contained below the zone 1.1883-1.1829, I can only recommend short positions for this pair; however, in case of a clear break above the same zone, I anticipate a momentum to the upper side.
Trade recommendation
Remain neutral temporarily.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
