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We're watching for a buy position now

We're watching for a buy position now | 27 October 2023

27 October 2023, EUR/USD

EURUSD is currently very bullish. We can note that this pair is still in a corrective phase (ABC corrective pattern). The price has broken below the support zone of 1.0562 and closed below it. However, please note that this does not change the overall bullish trend. We expect the price to drop further, at least down to 1.0492, and then reverse impulsively to the upside from this zone. You can consider placing a long position at 1.0492, with your profit target set between '1.0716' and '1.0735'.

Trade Recommendations:

We're watching for a buy position now

Bob Stan
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