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EURUSD: medium-term sells of the pair.

EURUSD: medium-term sells of the pair. | 04 November 2022

04 November 2022, EUR/USD

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 0.97761-0.97946. At the moment, the pair is trading lower, indicating the weakness of buyers.

• Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 0.98804-0.98948. At the moment, the pair is trading lower, indicating the strength of sellers.

• The area of profitable prices for sell in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the minimum 01.11.2022.

• Quotation of the lower boundary of the zone 1/4-0.97841.

• Quotation of the lower boundary of the zone 1/2-0.98371.

• Intraday objectives: update the lows from 01.11.2022-0.97301.

• Medium-term objectives: test the higher bound of SWCZ - 0.96771.

• Trading recommendations: sells from the range of favorable prices in the formation of a reversal pattern.

• Sell: 0.97841-0.98371, Take Profit 1-0.97301, Take Profit 2-0.96771.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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