We are flat | 17 July 2023

Technical observation

On the daily chart above, EUR rose above the zone 1.1048-1.1075 with a big green candle and it is still trading with an increasing bullish bias, however, I expect a loss of this upwards movement followed by a pullback to the just broken line and a possible bounce within it, I recommend that you wait for a second retracement to the zone before you pick bullish positions with your take profit at 1.1679 and stop-loss at 1.0825, if the price rises above the level 1.1679, I expect the value of EUR to ascend further towards the key level 1.2353 or even higher, I can only recommend short positions below the zone 1.1048-1.1075 towards 1.0319 and 0.9533.

Trade recommendation

Remain neutral.