04 September 2023, EUR/USD
Technical observation
EUR declined to a lower trend line as indicated above and it closed bearish at a level 1.0763. Today I expect a possible surge to the upper side and my advice is, pick bullish positions now at 1.0763 with your take profit at 1.1274 and stop-loss at 1.0549; if there is a clear break above the level 1.1274, I anticipate a possible rise to the resistance zone 1.1523-1.1496 followed by a clear break above it. You can continue long with this pair above the zone 1.1523-1.1496 with your next take profit at 1.2353, however, if there is a break below the level 1.0763, i expect the value of EUR to decline towards 1.0319 or lower to 0.9533.
Trade recommendation
Buy EUR now at 1.0763 with your take profit at 1.1274.
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