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Wait for a correction to the level 1.0810

Wait for a correction to the level 1.0810 | 08 September 2023

08 September 2023, EUR/USD

Technical observation

EUR declined below the level 1.0810 then retraced to it once and it was sustained below it, right now the price is trading with an increasing bearish bias and I expect a further surge to the lower side. My advice, remain flat and wait for a second correction to the level 1.0810 then sell EUR at it with your take profit at 1.0244 and stop-loss at 1.1082. If there is a clear break below the level 1.0244 with a big red candle, continue short with this pair towards the level 0.9533 after a retracement tot the broken line. On the chart above, I can only recommend bullish positions in case of a clear break above the zone 1.1523-1.1496.

Trade recommendation

Wait for a correction to the level 1.0810 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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