23 Oktober 2023, EUR/USD
EURUSD is currently experiencing a strong bullish trend, but it's important to note that this pair is in a corrective phase. Despite the formation of a minor rising wedge pattern, our expectation is for the price to experience a drop, reaching at least 1.0506, followed by a subsequent impulsive upward reversal with our target set at the resistance zone of 1.0742. We advise against placing a long position at this time due to the associated risks. Instead, consider entering a long position after the anticipated pullback, with a profit target range of 1.0700 to 1.0742.
Trade Recommendations:
We're long for now