09 March 2023, EUR/USD
Technical observation
On the 4 hour chart above price has been on a steady bearish movement for a while now and today I expect a further momentum to the lower side. If you currently holding short positions with the pair above, I recommend that you remain in the trade and pick your profits at the supportive level 1.0460. In case the price clearly penetrates below the level 1.0460 with a big red candle, you can expect the value of EUR to descend further after a pullback to the broken line, on your way downwards the key levels to look for include 1.0154, 0.9740 and the lower supportive level 0.9539.Bullish positions can only be recommend above the zone 1.0754-1.0766.
Trade recommendation
Remain short with your take profit at 1.0460.
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