21 June 2023, EUR/USD
Technical observation
On the chart above the price is trading with a increasing bearish bias below the resistance zone 1.1048-1.1075, I expect a loss of this downwards movement followed by a pullback to the zone I have mentioned above, my advice is, 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 1.0319 and stop-loss at 1.1329. If there is a clear break below the level 1.0319 with a big red candle, I expect the value of this pair to plummet towards the supportive level 0.9533 or lower. I can only recommend bullish positions above the zone 1.1048-1.1075.
Trade recommendation
Remain flat temporarily.
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