Flat for now | 21 November 2023

21 November 2023, EUR/USD

Flat for now

EURUSD is nearing completion of the impulsive phase, with the price approaching our target for the major outer wave 'V' at 1.0759. Currently, the price is forming the impulsive major wave 'V.' It's important to note that we maintain a bullish outlook as long as the price stays above 1.0882. We anticipate the price to reach 1.0759, followed by a reversal to the upside with our target set at the resistance zone of 1.0955. Placing a trade now carries a high level of risk, given that the price is approaching our target.

Trade Recommendations:

Flat for now

Bob Stan
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