31 October 2023, EUR/USD
Technical observation
On the weekly chart above the value of EUR is trading with an increasing bullish bias, this upwards movement is a correction to the resistance 1.1512-1.1453 and I expect a possible rejection within it followed by a surge to the lower side. My advice, remain neutral and wait for a correction to the zone I have mentioned above then sell a bounce within it with your take profit at 0.9541 and stop-loss at . If there is a clear break below the level 0.9541 with a bug red candle, wait for a pullback to this line before you continue short, on the other hand, pick bullish in case of a clear penetration above the zone 1.1512-1.1453.
Trade recommendation
Remain neutral.
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