12 September 2023, EUR/USD
Technical observation
On the chart above the price bounced at the resistance level 1.1236 then bounced at it and since then it has been trading with an increasing bearish bias, this week I expect a further surge to the lower side and in case you already picked short positions with this pair, I recommend that you remain in the trade with your take profit at the level 0.9532 and stop-loss at 1.1642, if there is a clear break below the level 0.9532, I expect the value of this pair to plunge further to the lower side on the other hand, I anticipate possible bullish movements of price in case of a clear break above the level 1.1236, I expect bullish movements towards 1.2342.
Trade recommendation
Remain short with your take profit at 0.9532.
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