We're looking for sell positions for now | 17 November 2023

17 November 2023, EUR/USD

We're looking for sell positions for now

EURUSD is currently in an impulsive phase, with the price forming the impulsive major wave 'V.' Although the price is presently dropping, it appears to be a pullback triggered by the rejection at the resistance zone of 1.0881. Furthermore, the double rejection from the same zone, 1.0881, resulting in the formation of a double top, confirms a potential short-term reversal to the downside. We anticipate the price to reach 1.0759, followed by a reversal to the upside with our target set at the resistance zone of 1.0955. Consider placing a long position at 1.0759, with your profit target at 1.0955

Trade Recommendations:

We're looking for sell positions for now

Bob Stan
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