18 July 2023, EUR/USD
Technical observation
For the past three consecutive weeks EUR has been trading with an increasing bullish bias and this week it opened bullish again. This upwards movement is a correction to the resistance zone 1.1467-1.1415 and I expect either a rejection within this zone or a clear break above it with a big green candle, my advice, remain flat and wait for a pullback to the zone indicated above then sell a bounce within it with your take profit at 1.0266 and stop-loss at 1.1882. If the value of EUR declines below the level 1.0266 I expect it to plummet towards 0.9533, on the other hand I expect bullish movements in case of a break above zone 1.1467-1.1415.
Trade recommendation
Wait for a correction to the zone 1.1467-1.1415 to sell EUR.
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