We are bearish | 23 June 2023

Technical observation

On the chart above the price is trading with an increasing bearish bias below resistance zone 1.1048-1.1015 and today I expect a further surge to the lower side. My advice, if you sold EUR within the zone indicated above; remain short with your take profit at 1.0319 and stop-loss at 1.1309. If there is a clear break below the level 1.0319, wait for a correction to the broken line and a bounce at it before you continue short towards the supportive level 0.9533 or lower. As it is on the chart above, I can only recommend bullish positions above the zone 1.1048-1.1015 towards the resistance level 1.1679 and 1.2353.

Trade recommendation

Remain short with your take profit at 1.0319.