Remain bullish | 21 August 2023

Technical observation

EUR retraced to the supportive zone 1.0845-1.0832 but did not break below it, instead it bounced within the same zone then rose with a big green candle, today I expect a further momentum to the upper side and in case you bought this pair within the zone I mentioned earlier, remain in the trade with your take profit at 1.1140 and stop-loss at 1.0771, if the price rises above the level 1.1140, I expect the value of EUR to ascend further after a correction and a bounce at the broken line, on the other hand, I anticipate possible bearish movements of price towards the supportive level 1.0518 in case of a clear break below the zone 1.0845-1.0832.

Trade recommendation

Remain bullish with your take profit at 1.1140.