06 November 2023, EUR/USD
Technical observation
EUR pulled back to the supportive zone 1.0434-1.0466 for a third time then bounced within it and since then it has been trading with an increasing bullish bias, as long as the price is sustained above the zone I have mentioned above, I expect it to ascend even further and if you are holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 1.1277 and stop-loss at 1.0205. In case of a clear penetration above the level 1.1277 with a big red candle, wait for a pullback and a bounce at this line before you continue long with this pair towards the resistance level 1.1916 or higher.
Trade recommendation
Remain long with your take profit at 1.1277 and stop-loss at 1.0205.
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