Remain neutral | 09 October 2023

09 October 2023, EUR/USD

Remain neutral

Technical observation

On the chart above the price is trading with an increasing bullish bias between the supportive level 1.0319 and a resistance zone 1.0770-1.0795, this upwards movement is a retracement to the zone I have mentioned above and I expect a possible rise and a rejection within it followed by a surge to the lower side. My advice, remain flat and wait for a correction to the zone indicated above then sell a bounce within it with your take profit at 1.0319 and stop-loss at 1.0985. If there is a clear break below the level 1.0319, I expect the value of EUR to plummet further towards the key level 0.9533 or even lower.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .