Wait for a correction to the zone 1.0367-1.0325 | 28 October 2022

Technical observation

On the daily chart above, price is trading with an increasing bearish bias between the supportive level 0.9596 and a resistance zone 1.0367-1.0325, however, despite this downwards movement, I expect a correction to the zone I have indicated above. My advice, remain neutral and wait for a correction to the zone I have mentioned above then sell a bounce within it with your take profit at 0.9596 and stop-loss at 1.0613. If there is a clear break below the level 0.9596 with a big red candle, I expect the value of EUR to plummet further after a pullback to the broken zone, on the other hand, a surge to the upper side can be expected in case of a break above the zone 1.0367-1.0325.

Trade recommendation

Wait for a correction to the zone 1.0367-1.0325 to sell EUR.