Remain flat. | 02 September 2022

Technical observation

On the hourly chart above price has been trading with an increasing bullish bias for several hours now and I still expect further bullish movements of price. As it is on the chart above, I would recommend that you remain neutral and wait for a correction to the resistance zone 1.0069-1.0063 then sell a bounce within it with your take profit at 0.9905 and stop-loss at 1.0113, If there is a clear break below the level 0.9905 with a big red candle, I expect a further surge to the lower side after a correction to the broken line, on the other hand, should there be a clear break above the zone I mentioned earlier, I expect EUR to rise towards the level 1.0203.

Trade recommendation

Remain flat.