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Wait for a rebound from 1.06350 towards 1.07724.

Wait for a rebound from 1.06350 towards 1.07724. | 25 September 2023

25 September 2023, EUR/USD

Wait for a rebound from 1.06350 towards 1.07724.

Last week, Euro rallied to the lowerside but failed to break and close below 1.06350-1.06502. As long as the price remains above this zone, this is a good place to consider a possible long term buy position towards 1.07724. This is a clear zone, and if the price should break and close below it, this will be a good place to consider a possible long term sell position towards 1.04, this is the continuation of the last impulsive wave (v) with an ultimate target at 1.01.

Trade Recommendations:

Wait for a rebound from 1.06350 towards 1.07724.

Bob Stan
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