17 August 2023, EUR/USD
Technical observation
On the chart above, the value of EUR has been trading with an increasing bearish bias as I predicted earlier and today I expect a further momentum to the lower side, in case you are currently holding short positions with this pair, I recommend that you remain in the trade and pick your profits at the level 1.0832. Should there be a clear breach below the supportive zone 1.0845-1.0832 with a big red candle, I expect the value of this pair to plummet towards the supportive level 1.0518 or lower, on the other hand, I anticipate bullish movements towards level 1.1274 if the price rises above the resistance line 1.1140.
Trade recommendation
Remain short with your take profit at 1.0832.
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