We are bearish towards 1.0666 | 15 August 2023

Technical observation

On the chart above, EUR has been trading with an increasing bearish bias for a while now and today I expect a continuation of this downwards movement, in case you already picked short positions, I recommend that you remain in the trade with your take profit at 1.0666 and stop-loss at 1.1523. Should there be a clear break below the level 1.0666 with a big red candle, I expect the value of this pair to plummet towards the supportive level 1.0319 or lower to 0.9533; on the other hand, in case of a clear break above the resistance zone 1.1496-1.1437, I anticipate possible bullish movement towards the level 1.2353.

Trade recommendation

Remain short with your take profit at 1.0666.