30 June 2023, EUR/USD
Technical observation
On the chart above the price is trading with an increasing bearish bias above supportive zone 1.0854-1.0844, this downwards movement is a correction to the zone I have mentioned above and I expect either a rejection within the same zone or a clear break below it with a big red candle. If there is a rejection within the zone mentioned earlier, re-buy EUR within it with your take profit at 1.1095 and stop-loss at 1.0781, on the other hand, in case of a clear penetration below the zone 1.0854-1.0844, wait for a pullback to the broken zone before you pick short positions to short EUR towards the level 1.0511.
Trade recommendation
Wait for a correction to the zone 1.0854-1.0844 to buy EUR.
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