We're buyers for now | 20 Octubre 2023
20 Octubre 2023, EUR/USD
EURUSD is currently in a bullish corrective phase, with the market following the ABC corrective pattern. Although the price has formed a minor rising wedge, we expect it to drop, reaching at least 1.0506 before reversing to the upside impulsively. Our target lies at the resistance zone of 1.0742. It is not advisable to open a long position as it carries high risk. Instead, consider placing a long position after a pullback, with your profit target set between 1.0700 and 1.0742. This setup will be invalidated if the price breaks and closes below the support zone at 1.0464.
Trade Recommendations:
We're buyers for now
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
