Wait for a pullback to re-sell EUR | 27 September 2022

Technical observation

On the daily chart above price declined steadily to the supportive level 0.9555 and closed bearish above it. Today I expect possible bullish movements of price towards the resistance zone 1.0367-1.0325 and I would recommend that you remain neutral and wait for a correction to the zone indicated above then sell a bounce within it with your take profit at 0.9555 and stop-loss at 1.0617. If there is a clear break below the level 0.9555 with a big red candle, I expect the value of EUR to plummet further to the lower side, but in case of a penetration above the zone 1.0367-1.0325, I expect price to ascend towards the resistance level 1.1137.

Trade recommendation

Remain neutral.