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We're long for now

We're long for now | 30 October 2023

30 October 2023, EUR/USD

We're long for now

EURUSD currently in a bullish trend; the price is currently in a corrective phase (ABC corrective pattern). The price is forming a bear flag, suggesting an anticipated slight decline. Despite the price breaking below the impulsively supportive zone of 1.0562 and closing beneath it, it's crucial to acknowledge that this doesn't alter the overall bullish trend. Our expectation is for the price to experience a further drop, reaching at least 1.0492, followed by an impulsive upward reversal from this level. You can consider initiating a long position at 1.0492, setting your profit target between 1.0716 and 1.0735.

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We're long for now

Bob Stan
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