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We're in a bullish pullback mode

We're in a bullish pullback mode | 05 October 2023

05 October 2023, EUR/USD

We're in a bullish pullback mode

EURUSD is currently in a bullish corrective phase. We can see from the chart above that for the better part of yesterday (10/5/2023), the price was moving impulsively to the upside. The market is currently forming the corrective ABC pattern. From the chart above, we can see that the price is forming the minor corrective wave 'a,' with our target set at the resistance zone of 1.0742. We expect the price to rise at least up to 1.0742. You can place a long position now with your profit target set between 1.0700 and 1.0742.

Trade Recommendations:

We're in a bullish pullback mode

Bob Stan
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