Wait | 20 September 2023

Technical observation

On the daily chart above the value of EUR declined broke below a trend line as indicated above then retraced to it and was sustained below the same level. Currently the price is trading with an increasing bearish bias and I expect it to descend even further, however, I recommend that you remain neutral and wait for a second correction to the resistance level 1.0807 to sell EUR with your take profit at 1.0319 and stop-loss at 1.1062. If there is a clear break below the supportive level 1.0319 with a big red candle, I expect the price to plunge further towards the supportive level 0.9533 or lower.

Trade recommendation

Remain neutral.