We are long towards 151.97. | 20 September 2023

Technical observation

On the daily chart above, USD has been trading with an increasing bullish bias since it bounced within the supportive zone 138.75-138.22 and today I anticipate a further momentum to the upper side. In case you are already holding long positions with this pair, I recommend that you remain in the trade with your take profit at 151.97 and stop-loss at 135.28. Should there be a break above the level 151.97, I expect the price to plummet further to the upper side after a correction and a bounce at the broken line, on the other hand, I expect a possible plunge in the value of USD in case of a clear breach below the zone 138.75-138.22.

Trade recommendation

Remain long with your take profit at 151.97.