Remain short with your take profit at 1.0215. | 26 October 2023

26 October 2023, EUR/USD

Remain short with your take profit at 1.0215.

Technical observation

EUR retraced to the resistance level 1.0694 then bounced at it and since then it has been trading with an increasing bearish bias, today I expect the value of this pair to plummet further. If you are currently holding short positions, I recommend that you remain in the trade with your take profit at 1.0215 and stop-loss at 1.0768, if there is a clear break below the level 1.0215, with a big red candle, wait for a pullback to the broken line before you continue short, on the hand should there be a clear breach above level, I anticipate possible bullish movements towards zone 1.0922-1.0924 or higher to 1.1262.

Trade recommendation

Remain short with your take profit at 1.0215.

Imelda Maseno
Analyst of «FreshForex» company
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