We're flat | 16 September 2021

Technical observation

EUR is trading with an increasing bearish bias just above a supportive zone 1.1782-1.1777, I expect a continuation of this bearish movement to the zone I have mentioned above followed by a bounce within it for a momentum to the upper side. My advice, remain flat and wait for a correction to the zone 1.1782-1.1777 and a rejection within it to buy EUR with your take profit at 1.1882 and stop loss at 1.1751. In case price is not contained above the zone 1.1782-1.1777 and instead it clear breaks below it with a big red candle, I expect a retracement to the just broken zone followed by a momentum to the lower supportive level 1.1697.

Trade recommendation

Remain flat.