Wait for a correction to the zone 1.1512-1.1453 | 23 October 2023

23 October 2023, EUR/USD

Wait for a correction to the zone 1.1512-1.1453

Technical observation

On the chart above the price is trading with an increasing bearish bias between the supportive level 0.9545 and a resistance zone 1.1512-1.1453,this bearish movement is a slight rally to the lower side and I expect a loss of it followed by a correction to the zone I have indicated above it. As it is on the chart above, I recommend that you remain neutral and wait for a pullback to the indicated above then sell a bounce within it with your take profit at 0.9545 and stop-loss at 1.1842. In case of a clear break below the level 0.9545, wait for a pullback to this line and a bounce at it before you continue short with this pair.

Trade recommendation

Wait for a correction to the zone 1.1512-1.1453 to sell EUR.


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Imelda Maseno
Analyst of «FreshForex» company
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