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Remain long with your take profit at 23.6% fib level.

Remain long with your take profit at 23.6% fib level. | 05 November 2019

05 November 2019, EUR/USD

Remain long towards 23.6% fib level.

Technical Observation

Yesterday, EURUSD declined slightly to the lowerside and is still showing signs of declining even further. As we mentioned during the previous day's forecast, the current bearish price rally is mere retracement rally and does not indicate that the price is reversing to the lower side. While the moving average indicator gives us a green sign. we choose to hold onto a buyer perspective we are expecting the price to rally to the upper side and should go straight towards 23.6% fib level or even higher towards 38.2% fib level.

Trade Recommendations:

Remain long with your take profit at 23.6% fib level.

Imelda Maseno
Analyst of «FreshForex» company
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