EURUSD Pull-back expected. Take advantage of it.

Nov 15, 2023

The EURUSD pair followed the exact path that we pointed out on our last analysis (see chart below) as it gave a buy opportunity after a pull-back on the 1D MA50 and rebounded aggressively following yesterday's lower than expected U.S. CPI:

A new pattern has emerged since, a Bullish Megaphone, with the price hitting yesterday's its top (Higher Highs trend-line). We expect a technical pull-back and rebound either on the 0.382 Fibonacci retracement level or upon a -1.38% decline. Pay attention also on the 4H RSI Higher Lows Zone for a potential bottom. Our target is slightly lower now at 1.09750, which represents a +2.20% rise from the bottom, similar to the other two within the Bullish Megaphone.

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