Wait | 02 November 2023

02 November 2023, EUR/USD

Wait

Technical observation

On the weekly chart above, the price is trading with an increasing bearish bias between the supportive level 0.9541 and a resistance zone 1.1512-1.1453 and this week I expect it to close red, however, next week I expect possible upwards movements to the zone I have indicated above followed by either a rejection of price within it or a clear break below it with a big red candle. My advice, remain neutral and wait for a pullback to the zone 1.1512-1.1453 then sell a bounce within it with your take profit at 0.9541 and stop-loss at 1.1880. If there is a clear penetration below the level 0.9541, continue short after a correction to the broken line.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .