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EURUSD: medium-term buys of the pair.

EURUSD: medium-term buys of the pair. | 24 October 2023

24 October 2023, EUR/USD

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.05400-1.05700. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.05700-1.05800. At the moment, the pair is trading higher, indicating the strength of buyers.

• The area of profitable prices for buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 24.10.2023.

• Quotation of the higher boundary of the zone 1/4 - 1.06391.

• Quotation of the higher boundary of the zone 1/2 - 1.05911.

• Intraday objectives: update the highs from 24.10.2023- 1.06871.

• Medium-term objectives: test the lower bound of GWCZ - 1.07871.

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

• Buy: 1.05911-1.06391, Take Profit 1-1.06871, Take Profit 2-1.07871.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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