28 October 2022, EUR/USD
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.
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