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We're waiting for a long position.

We're waiting for a long position. | 25 August 2023

25 August 2023, EUR/USD

We're waiting for a long position.

EURUSD has the market completed forming the Impulsive 'V' wave pattern. The price is currently at a support zone of 1.0800. We expect the market to be bullish and anticipate it moving to the upside in the form of a corrective 'ABC' pattern, with our target at 1.1042. This is where we expect the corrective phase to end. You can place a long position with a target range of 1.0897 to 1.1042. Note that this setup will be invalidated if the price breaks below 1.0800. Ensure you use proper risk management.

Trade Recommendations:

We're waiting for a long position.

Bob Stan
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