01 October 2021, EUR/USD
Technical observation
On the chart above, EUR did not bounce within the supportive zone 1.1665-1.1626 as I had anticipated; instead it penetrated below the same zone with a big red candle and it is currently trading slightly below it with an increasing bearish bias. My expectation is a continuation of this bearish movement followed by a possible retracement to the just broken zone and a rejection within it for a momentum to the lower side. Right now as it is on the weekly chart above, wait for a correction to the just broken zone 1.1665-1.1626 and pick short positions within it after a bounce with your take profit at 1.10826 and stop loss at 1.1848.
Trade recommendation
Wait for a correction to the zone 1.1665-1.1626 to sell EUR.
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