Remain flat. | 26 September 2022

Technical observation

On the 4 hour chart above price declined to the supportive level 0.9667 and closed bullish above it, today I expect possible bullish movements of price towards the resistance level 0.9862 followed by a bounce at it. My advice, remain neutral and wait for a pullback to the level 0.9862 then sell a bounce at it with your take profit at 0.9667 and stop-loss at 0.9953. If there is a clear break below the level 0.9667 with a big red candle, I expect price to plummet further after a correction to the broken line, on the other hand, in case of a clear break above the level 0.9862, I expect the value of the pair above to ascend towards the level 1.0087.

Trade recommendation

Wait for a correction to the level 0.9862 to sell EUR.