EUR/USD reaching towards the resistance at 1.0720

Oct 31, 2023

Hello traders, in my last week's EUR/USD update I advised buying
when the price was near 1.0550. That buy trade generated nearly
100 pips profit.

Currently, EUR/USD looks all set to reach the top of the price channel
at 1.0720. That area also happens to the 100-day EMA level on the daily
chart. So, it needs to be seen how price reacts if it reaches the 1.0720 level.

Oct 31, 2023

Note

And as expected, EUR/USD continues to reach new highs

Oct 31, 2023

Note

The resistance zone around 1.0675-1.07 seems to have stopped the rally for now

Oct 31, 2023

Note

Bought a small lot at 1.0593

Oct 31, 2023

Note

High volatility today and it is also the end of the month. Trade wisely.

Nov 1, 2023

Note

Price is once again back to lower TL of the channel, this can also be interpreted as a bearish flag. So, be careful

Nov 1, 2023

Note

I am considering adding a buy here

Nov 2, 2023

Note

Last night's buy trade @1.0525 is now in 74 pips profit

Nov 6, 2023

Note

Closed both positions@1.0720.
Profit : 195 Pips and 127 Pips respectively