09 February 2023, EUR/USD
Technical observation
On the chart above EUR declined below the zone 1.0767-1.0773 then pulled back to it twice and both times the price was sustained below the zone indicated above. Currently this pair is trading with an increasing bullish bias and this is a slight retracement to the upper side, my expectation is a possible rally to the lower side and in case you are holding short positions with this pair, I recommend that you remain in the trade with your take profit at 1.0581 and stop-loss at 1.0836. In case of a clear break below the level 1.0581, I expect the price to surge further to the lower side towards the level 1.0428 or lower.
Trade recommendation
Remain short with your take profit at 1.0581.
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