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we are long

we are long | 07 November 2023

07 November 2023, EUR/USD

we are long

Technical observation

On the chart above, the price pulled back to a lower trend line as indicated then bounced at it and since then it has been trading with an increasing bullish bias, this week I expect a further surge to the upper side and in case you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 1.1232 and stop-loss at 0.9966. Should there be a clear break above the zone 1.1417-1.1464 with a big green candle, wait for a correction and a bounce at this zone before you continue long towards the resistance levels 1.2557 and 1.3988.

Trade recommendation

Remain long with your take profit at1.1232.

Imelda Maseno
Analyst of «FreshForex» company
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