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We're buyers for now | 31 October 2023

31 October 2023, EUR/USD

We're buyers for now

EURUSD is currently in an uptrend. It's evident that this pair is undergoing a corrective phase (an ABC corrective pattern). The price is presently forming a minor wave, with our target set at 1.0730. There's currently an impulsive upward movement in price. If you don't currently hold a long position, consider placing one above the resistance zone at 1.0634, aiming for a profit target within the range of 1.0716 to 1.0735. It's important to note that this setup will only be invalidated if the price fails to break and close above the resistance zone at 1.0634.

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We're buyers for now

Bob Stan
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