Wait for a pullback to 1.1666 to sell EUR | 30 September 2021

30 September 2021, EUR/USD

Technical observation

On the 4 hour chart above, price broke below a level 1.1666 then spiked to the lower supportive level 1.1587 but could not break below it, it was sustained above the line and is currently trading with an increasing bullish bias, this bullish movement is a retracement to the key level 1.1666 and I expect it to continue to the same line followed by a rejection at it to pick short positions. My advice, remain neutral and wait for a pullback to the level 1.1666 then sell a bounce at it with your take profit at 1.1587 and stop loss at 1.1700. Continue short with this pair after a clear breakout below the supportive level 1.1587 with a big red candle.

Trade recommendation

Wait for a correction to the level 1.1666 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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