Wait | 26 July 2023

Technical observation

EUR has been trading with an increasing bearish bias for the past two consecutive weeks; this downward movement is a slight rally to the lower side and I expect a loss of it followed by a pullback to the resistance zone 1.1464-1.1415. My advice, remain flat and wait for a correction to the zone indicated above then sell a bounce within it with your take profit at 1.0266 and stop-loss at 1.1809, if there is a break below the level 1.0266, wait for a pullback to the broken line and a rejection at it before you continue short towards the supportive level 0.9532. On the weekly chart above, I can only recommend bullish positions above the zone 1.1464-1.1415.

Trade recommendation

Wait for a correction to the zone 1.1464-1.1415 to sell EUR.