03 March 2023, EUR/USD
Technical observation
On the 4 hour chart above, EUR is still pulling back to the resistance zone it established at 1.0779-1.0796 and I expect rise to the same zone followed by a possible rejection within it. My advice, remain flat and wait for a correction to the zone I have mentioned above then pick short positions within it with your take profit at 1.0461 and stop-loss at 1.876. If price beaks below the supportive level 1.0461 with a big red candle, I expect the value of this pair to plummet further towards the supportive levels 1.0094 and 0.9631. On the chart above as long as the price is sustained below the zone 1.0779-1.0796 I can only recommend short positions.
Trade recommendation
Wait for a correction to the zone 1.0779-1.0796 to sell EUR.
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