09 September 2022, EUR/USD
Technical observation
Just as I predicted yesterday, EUR retraced to the resistance zone it established at 1.0105-1.0090 and it is currently trading within this zone with an increasing bullish bias, however, I expect a loss of this upwards movement followed by a momentum to the lower side. I would recommend that you place a sell order now within the zone mentioned above with your take profit at 0.9862 and stop-loss at 1.0170, as it is on the chart above, as long as price is sustained below the zone I mentioned earlier, I can only recommend short positions for EUR, a further surge to lower side can be expect in case of a clear penetration below the level 0.9862.
Trade recommendation
Sell EUR now within the zone 1.0105-1.0090 with your take profit at 0.9862.
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