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We're waiting for a bearish correction to pick a low risk buy position

We're waiting for a bearish correction to pick a low risk buy position | 16 November 2023

16 November 2023, EUR/USD

We're waiting for a bearish correction to pick a low risk buy position

On EURUSD , The pair is in an impulsive phase, and from the chart above, we can observe the formation of the impulsive major wave labeled 'V.' Although the price is currently undergoing a drop, it appears to be a pullback triggered by the rejection at the resistance zone of 1.0881. We anticipate the price to reach 1.0759, followed by an expected reversal to the upside with our target set at the resistance zone of 1.0955. You may consider placing a long position at 1.0759, with your profit target at 1.0955.

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We're waiting for a bearish correction to pick a low risk buy position

Bob Stan
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