EURUSD – Up
Technical observation
On the daily chart above the value of EUR declined broke below a trend line as indicated above then retraced to it and was sustained below the same level. Currently the price is trading with an increasing bearish bias and I expect it to descend even further, however, I recommend that you remain neutral and wait for a second correction to the resistance level 1.0807 to sell EUR with your take profit at 1.0319 and stop-loss at 1.1062. If there is a clear break below the supportive level 1.0319 with a big red candle, I expect the price to plunge further towards the supportive level 0.9533 or lower.
Trade recommendation
Remain neutral.
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