03 July 2023, EUR/USD
Technical observation
On the chart above the price pulled back to the resistance zone 1.1048-1.1013 but could not break above it, instead it bounced within the same zone and since then it has been trading with an increasing bearish bias. Today I expect a further surge to the lower side and if you are already holding short positions with this pair, my advice is that you remain in the trade with your take profit at 1.0319 and stop-loss at 1.1323. If there is a clear break below the level 1.0319, wait for a pullback to broken line and bounce at it before you continue short towards the lower supportive level 0.9533 or lower.
Trade recommendation
Remain short with your take profit at 1.0319.
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