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Remain long towards 23.6% fib level.

Remain long towards 23.6% fib level. | 04 November 2019

04 November 2019, EUR/USD

Remain long towards 23.6% fib level.

Technical Observation

Few weeks ago, Eurusd established a swing low around 1.09, following the bounce from this swing low, eurusd has been in an active retracement to the upperside but we're are yet to reach any of the fib levels above, According to the the daily chart attached, we still expect further momentum, to the upperside and should go straight towards the 23.6% fib level, if this level, is broken, the maximum retracement level eurusd should go up to is 50.0% fib level. A break above this fib should mean we are continuing to the upperside.

Trade Recommendations:

Remain long towards 23.6% fib level.

Imelda Maseno
Analyst of «FreshForex» company
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