We're flat | 15 September 2021

Technical observation

On the 4 hour chart above, price is trading with an increasing bearish bias above a supportive zone 1.1782-1.1777, my expectation is a continuation of this bearish movement to the zone I have mentioned above followed by a rejection within it to pick long positions. My advice, remain neutral and wait for a correction to the zone 1.1782-1.1777 to buy EUR with your take profit at 1.1879 and stop loss at 1.1750. On the chart above, as long as price is sustained above the supportive zone 1.1782-1.1777, I can only recommend bullish positions for this pair. A momentum to the lower side can only be anticipated in case of a break below the same zone.

Trade recommendation

Remain flat.