We are short | 13 November 2023

Technical observation

EUR retraced to the resistance zone 1.0765-1.0751 then bounced within and since then it has been trading with an increasing bearish bias, today I expect a further surge to the lower side and in case you are already holding bearish positions, I recommend that you remain in the trade with your take profit at 1.0522 and stop-loss at 1.0848. If there is a clear break below the level 1.0461, wait for a retracement to this level and a bounce at it before you continue short towards the level 1.0087. On the chart above, if the price is sustained below the zone 1.0765-1.0751, I can only recommend short positions.

Trade recommendation

Remain short with your take profit 1.0522.