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We're long for a short time

We're long for a short time | 25 Octubre 2023

25 Octubre 2023, EUR/USD

EURUSD is currently very bullish. We can observe that this pair is still in a corrective phase (ABC corrective pattern). The price has been dropping impulsively to the downside, and it is currently at a support zone of 1.0583. We anticipate the price will rise, at least up to the resistance zone at 1.0735, which is our target for minor wave 'a.' Please note that this setup will be invalidated if the price breaks and closes below the support zone at 1.0735. You can consider opening a long position above 1.0735, with your profit target set at 1.0716-1.0735.

Trade Recommendations:

We're long for a short time

Bob Stan
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