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We're long from 1.0830 towards the upper trendline.

We're long from 1.0830 towards the upper trendline. | 23 August 2023

23 August 2023, EUR/USD

We're long from 1.0830 towards the upper trendline.

EURUSD has completed forming the impulsive 'V' wave pattern. The market is currently at a support zone of "1.0830". We expect the market to turn bullish and anticipate an upward movement in the form of a corrective 'ABC' pattern, with our target set at the resistance zone of "1.1042". This is the level where we anticipate the corrective phase to conclude. If you are considering a short position, you can place it with a target range of "1.0897" to "1.10420". Ensure you use proper risk management.

Trade Recommendations:

We're long from 1.0830 towards the upper trendline.

Bob Stan
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