Wait | 06 September 2023

Technical observation

On the chart above, the price declined to a lower trend line as indicated above but did not break below it, today I expect a pullback towards the level 1.0883 followed by a possible bounce at it. As it is on the chart above, I recommend that you remain neutral and wait for a correction to the level 1.0883 then sell a bounce at it with your take profit at 1.0667 and stop-loss at 1.0975, in case of a clear break below the level 1.0667 with a big red candle, I expect the value of EUR to plummet towards the supportive level 1.0635 or even lower to 1.0456. On the chart above, I can only recommend bullish positions above the level 1.1138.

Trade recommendation

Remain neutral.