Last week we spotted a rising wedge pattern on EURUSD. This is a bearish reversal pattern and we were expecting EURUSD to show weaknesses, seeing that US dollar index is rebounding. I anticipate that EURUSD will gravitate towards the imbalance and a daily bearish candle at 1.00703 of 09 November 2022.
We will be monitoring price on Monday, London open to see if we can catch a short position. I believe that it will first reprice last week's gap of 1.056 before going lower.
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