Pick bullish positions now at 1.0763 | 04 September 2023

04 September 2023, EUR/USD

Pick bullish positions now at 1.0763

Technical observation

EUR declined to a lower trend line as indicated above and it closed bearish at a level 1.0763. Today I expect a possible surge to the upper side and my advice is, pick bullish positions now at 1.0763 with your take profit at 1.1274 and stop-loss at 1.0549; if there is a clear break above the level 1.1274, I anticipate a possible rise to the resistance zone 1.1523-1.1496 followed by a clear break above it. You can continue long with this pair above the zone 1.1523-1.1496 with your next take profit at 1.2353, however, if there is a break below the level 1.0763, i expect the value of EUR to decline towards 1.0319 or lower to 0.9533.

Trade recommendation

Buy EUR now at 1.0763 with your take profit at 1.1274.

Imelda Maseno
Analyst of «FreshForex» company
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