25 Oktober 2022, EUR/USD
Technical observation
On the daily chart above price is trading with an increasing bullish bias slightly above the supportive level 0.9541, this upwards movement is a correction to the zone it established at 1.0367-1.0325 and I expect it to continue to the same zone then bounce at it. My advice, remain neutral and wait for a correction to the zone mentioned above then sell a bounce within it with your take profit at 0.9541 and stop-loss at 1.0617. If there is a clear break below the level 0.9541 with a big red candle, I expect a further surge to the lower side after a correction to the broken line. On the chart above, I can only recommend bullish positions above the zone 1.0367-1.0325.
Trade recommendation
Remain neutral.
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