EURUSD is still trapped in a daily downtrend. Since the weekly correction process has not been completed yet, it is technically likely to rise once more. And after the pattern completes, it could come down around the weekly demand zone next week. In particular, as the FOMC rate decision in November approaches, downward pressure will be stronger.
However, if all decisions are confirmed and the results are as expected, the market will rebound. If there is a rebound here, it will ride a weekly upward wave, so it will rise to the monthly supply zone. This is a very good buy position, both technically and temporally, so look for opportunities when it rebounds.
However, if all decisions are confirmed and the results are as expected, the market will rebound. If there is a rebound here, it will ride a weekly upward wave, so it will rise to the monthly supply zone. This is a very good buy position, both technically and temporally, so look for opportunities when it rebounds.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.