Place a pending sell limit order within 0.9900-0.9880 | 30 September 2022

Technical observation

EUR is retracing to the resistance zone 0.9900-0.9880 and I expect a rejection of price within it followed by a possible rally to the lower side. My advice, remain neutral temporarily and wait for a correction to the zone indicated above then sell a bounce within it with your take profit at 0.9549 and stop-loss at 1.0001. If there is a clear break below the level 0.9549, I expect the value of EUR to plummet further after a correction to the broken line, on the other hand in case if a break above the zone 0.9900-0.09880, I anticipate possible bullish movements towards the resistance level 1.0347 or even higher to 1.0613.

Trade recommendation

Place a pending sell limit order within the zone 0.9900-0.9880 with you take profit at 0.9549.