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We're waiting for a bearish pullback

We're waiting for a bearish pullback | 06 November 2023

06 November 2023, EUR/USD

EURUSD was predominantly bullish last week. Currently, this pair is in a corrective phase, following an ABC corrective pattern. The price currently rests at the resistance zone of 1.0735, marked as minor wave 'a.' We anticipate a corrective drop from this resistance zone, reaching at least the support zone of 1.0632, which is our target for the minor corrective wave 'b.' Consider initiating a Short position at 1.0718, with a profit target set between 1.0632 and 1.0606. Ensure you use proper risk management.

Trade Recommendations:

We're waiting for a bearish pullback

Bob Stan
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