09 November 2023, EUR/USD
Technical observation
On the chart above the price bounced within the zone1.0434-1.0466 and since then it has been trading with an increasing bullish bias. If the value of EUR remains above the zone I mentioned earlier, I expect it to ascend even further; my advice, if you already picked bullish positions, remain in the trade with your take profit at 1.1277 and stop-loss at 1.0193. In case of a clear break above the level 1.1277, wait for a correction to this line before you continue long towards level 1.1916, on the chart above, I can only recommend bearish positions if the price clearly penetrates below the zone 1.0434-1.0466.
Trade recommendation
Remain long with your take profit at 1.1277.
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