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We're long

We're long | 10 September 2021

10 September 2021, EUR/USD

We're long

Technical observation

EUR has been trading with an increasing bearish bias since the beginning of this week and my expectation is for it to close bearish however, next week I expect I expect a loss of this mini retracement followed by a momentum to the upper side. My advice, if you bought EUR within the supportive zone 1.1750-1.1703 after a bounce, remain long with your take profit at 1.2248 and stop loss at 1.1498. In case of a clear break above the level 1.2248 with a big green candle, I expect a further surge to the upper side after a correction to the just broken line. On the weekly chart above, I can only recommend short positions below the zone 1.1750-1.1703.

Trade recommendation

Remain long with your take profit at 1.2248.

Imelda Maseno
Analyst of «FreshForex» company
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