09 October 2023, EUR/USD
Technical observation
On the chart above the price is trading with an increasing bullish bias between the supportive level 1.0319 and a resistance zone 1.0770-1.0795, this upwards movement is a retracement to the zone I have mentioned above and I expect a possible rise and a rejection within it followed by a surge to the lower side. My advice, remain flat and wait for a correction to the zone indicated above then sell a bounce within it with your take profit at 1.0319 and stop-loss at 1.0985. If there is a clear break below the level 1.0319, I expect the value of EUR to plummet further towards the key level 0.9533 or even lower.
Trade recommendation
Remain neutral.
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