We're long for now | 23 Octubre 2023
23 Octubre 2023, EUR/USD
EURUSD is currently experiencing a strong bullish trend, but it's important to note that this pair is in a corrective phase. Despite the formation of a minor rising wedge pattern, our expectation is for the price to experience a drop, reaching at least 1.0506, followed by a subsequent impulsive upward reversal with our target set at the resistance zone of 1.0742. We advise against placing a long position at this time due to the associated risks. Instead, consider entering a long position after the anticipated pullback, with a profit target range of 1.0700 to 1.0742.
Trade Recommendations:
We're long 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.
