Remain flat temporarily. | 13 June 2023

Technical observation

Last week the price rose slightly to the upper side and this week it also opened bullish, this upwards movement is a correction to the resistance zone 1.1053-1.0994 and I expect a rise to the same zone followed by a rejection of price within it. My advice, remain neutral and wait for a correction to the zone indicated above then sell EUR within it with your take profit at 0.9532 and stop-loss at 1.1463. If there is a clear break below the level 0.9532, I expect the value of this pair to decline further, on the other hand, I expect possible bullish movements in case of a clear break above the zone 1.1053-1.0994.

Trade recommendation

Remain flat temporarily.