15 August 2023, EUR/USD
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.
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