01 September 2022, EUR/USD
Technical observation
EUR is trading with an increasing bullish bias below the resistance zone it established at 1.0110-1.0091 and I expect a continuation of this upwards movement to the same zone followed by a rejection within it to pick short positions with my take profit at 0.9898 and stop-loss at 1.0171. If price clearly breaks below the supportive level 0.9898, I expect it to plummet further after a pullback to the broken line, however, if there is a clear breakout above the zone I mentioned earlier, I anticipate possible upwards movement of price and the key levels to look for on your way upwards include 1.0368, 1.0613 and the key level 1.0934.
Trade recommendation
Wait for a correction to the zone 1.0110-1.0091 to sell EUR.
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