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we are long

we are long | 16 November 2023

16 November 2023, EUR/USD

we are long

Technical observation

On the chart above the price has been trading with an increasing bullish bias since it bounced within the supportive zone 1.0434-1.0466 and today, I expect a further surge to the upper side. In case you are already holding bullish positions with this pair, remain in the trade with your take profit at 1.1277 and stop-loss at 1.0198, should the price ascend above the level 1.1277, wait for a pullback to the broken line and a bounce at it before you continue long towards the level 1.1916. On the chart above, if EUR is sustained above the zone 1.0434-1.0466, I can only recommend bullish positions.

Trade recommendation

Remain long with your take profit at 1.1277.

Imelda Maseno
Analyst of «FreshForex» company
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