Looking to sell within 1.1662-1.1642 | 14 October 2021

Technical observation

Yesterday the value of the pair on the daily above rose with a big green candle and it is still showing signs of rising even further. Today I expect further bullish movements to the resistance zone 1.1662-1.1642 followed by a rejection within it to pick short positions. My advice, wait for a correction to the zone I have mentioned above and a rejection within it to sell EUR with your take profit at 1.1882 and stop loss at 1.1767. In case this par is not contained below the resistance zone 1.1662-1.1642 and instead it clearly breaks above it with a big green candle, wait for a correction to it and a rejection within the broken zone before you pick long positions.

Trade recommendation

Wait for a correction to the zone 1.1662-1.1642 to sell EUR.