Sell EUR at the level 1.0641 | 20 Oktober 2023

20 Oktober 2023, EUR/USD

Sell EUR at the level 1.0641

Technical observation

The value of the pair above has been trading with an increasing bullish bias for several days now, this upwards movement is a correction to the resistance line 1.0641 and I expect a continuation of this upwards movement to the same line followed by either a rejection at it or a clear break above it with a big green candle. If the price is rejected at the level 1.0641, sell this pair at the same line with your take profit at 1.0215, on the other hand, if there is a break above the level 1.0641, wait for a correction to the broken line before you pick bullish positions towards the resistance zone 1.0924-1.0922 or even higher to 1.1262.

Trade recommendation

Sell EUR at the level 1.0641 with your take profit at 1.0215.

Imelda Maseno
Analyst of «FreshForex» company
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