Wait for a correction to 1.1781-1.1777 | 21 September 2021

Technical observation

EUR is trading with an increasing bullish bias above a supportive level 1.1699, my expectation is a continuation of this upwards movement to the 1.1781-1.1777 followed by a rejection within it for a momentum to the lower side. Wait for a correction to the zone I have mentioned above and sell a bounce within it with your take profit at 1.1699 and stop loss at 1.1803. In case there is a clear breakout a below the key level 1.1699 with a big red candle, I anticipate price to plummet further to the lower side, on the other hand, if price is not contained below the zone 1.1781-1.1777 and instead it breaks above it, I expect a surge to the upper side.

Trade recommendation

Wait for a correction to the zone 1.1781-1.1777 to sell EUR.