So far, the month of November is one of correction for EurUsd with the pair rising more than 600 pips in the last 2 weeks.
However, let's not forget that the long-term trend is strongly bearish, and also fundamentally nothing changed significantly and a slightly better-than-expected CPI alone couldn't change a strong trend.
At this moment EurUsd is facing a very strong resistance that starts around 1.0350 and extends above 1.04 and this could be a good opportunity for traders to join the long-term trend.
That being said, rallies in this zone should be sold keeping in mind possible spikes when setting stop loss.
1.02 is the first obvious support followed by important parity zone.
However, let's not forget that the long-term trend is strongly bearish, and also fundamentally nothing changed significantly and a slightly better-than-expected CPI alone couldn't change a strong trend.
At this moment EurUsd is facing a very strong resistance that starts around 1.0350 and extends above 1.04 and this could be a good opportunity for traders to join the long-term trend.
That being said, rallies in this zone should be sold keeping in mind possible spikes when setting stop loss.
1.02 is the first obvious support followed by important parity zone.
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