We're long from 1.0830 towards the upper trendline. | 23 August 2023

23 August 2023, EUR/USD

We're long from 1.0830  towards the upper trendline.

EURUSD has completed forming the impulsive 'V' wave pattern. The market is currently at a support zone of "1.0830". We expect the market to turn bullish and anticipate an upward movement in the form of a corrective 'ABC' pattern, with our target set at the resistance zone of "1.1042". This is the level where we anticipate the corrective phase to conclude. If you are considering a short position, you can place it with a target range of "1.0897" to "1.10420". Ensure you use proper risk management.

Trade Recommendations:

We're long from 1.0830 towards the upper trendline.

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .