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Remain long

Remain long | 01 November 2022

01 November 2022, EUR/USD

Technical observation

On the chart above, price retraced to the supportive zone it established at 0.9873-0.9855 then bounced at it and since then it has been trading with an increasing bullish bias. As long as price is sustained above this zone I expect a further surge to the upper side and if you are currently holding bullish positions with EUR, I recommend that you remain in the trade with your take profit at 1.0087 and stop-loss at 0.9777. In case of a clear penetration above resistance level 1.0087 with a big green candle, wait for a pullback and rejection of price at it before you continue long with this pair towards the resistance level 1.0347.

Trade recommendation

Remain long with your take profit at 1.0087.

Imelda Maseno
Analyst of «FreshForex» company
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