Technical observation
On the chart above, the price is trading with an increasing bearish bias between the supportive level 1.0319 and the resistance zone 1.0770-1.0795 and as long as it is sustained below the zone I have mentioned above, I expect it to plunge even further. If you are already holding short positions with this pair, I recommend that you remain in the trade with your take profit at 1.0319 and stop-loss at 1.0962. Should there be a clear break below the level 1.0319 with a big red candle, I expect the value of EUR to plunge further towards the supportive level 0.9533 or lower.
Trade recommendation
Remain short with your take profit at 1.0319.
Origin: FreshForex
