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Wait for a correction to buy EUR.

Wait for a correction to buy EUR. | 15 November 2023

15 November 2023, EUR/USD

Wait for a correction to buy EUR.Wait for a correction to buy EUR.

Technical observation

On the chart above, the price rose to the resistance zone 1.0765-1.0755 and clearly rose above it with a big green candle, right now the price is still trading with an increasing bullish bias however, I expect a loss of this upwards movement followed by a correction to the zone I have mentioned above . My advice, remain flat and wait for pullback to the zone 1.0765-1.0755 then buy a bounce within it with your take profit at 1.1041 and stop-loss at 1.0663. If there is a clear break above the level 1.1041, I expect the value of this pair to ascend further towards the key level 1.1276 or higher.

Trade recommendation

Wait for a correction to the zone 1.0765-1.0755 to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
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