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We're waiting for a low risk buy position.

We're waiting for a low risk buy position. | 01 September 2023

01 September 2023, EUR/USD

We're waiting for a low risk buy position.

The EURUSD dropped to the downside, just as we had predicted in our previous analysis on 8/31/2023. Currently, the price is within a minor corrective wave labeled as 'b' at 10841. This currency pair is still in a corrective phase, and we anticipate an impulsive upside movement for our target at 1.1040. Please note that this target pertains to minor wave 'c'. You may consider opening a long position at this point, setting your profit target at 1.1040, and placing your stop loss at 1.0812. However, it's essential to be aware that if the price breaks and closes below 10841, this setup will be invalidated.

Trade Recommendations:

We're waiting for a low risk buy position.

Bob Stan
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