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We're waiting for long positions for now.

We're waiting for long positions for now. | 04 October 2023

04 October 2023, EUR/USD

We're waiting for long positions for now.

EURUSD is currently in a bullish corrective phase since the price has completed forming the impulsive V wave pattern. The market is presently shaping the corrective ABC pattern. Currently, from the chart above, we can see that the price is forming the minor corrective wave 'a,' with our target set at the resistance zone of 1.0742. We expect the price to rise, at least up to 1.0742. You can consider entering a long position now with your profit target ranging from 1.0700 to 1.0742. This setup will be invalidated if the price breaks and closes below the support zone of 1.0454.

Trade Recommendations:

We're waiting for long positions for now.

Bob Stan
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