empty
10.11.2023 07:59 AM
Trading plan for EUR/USD on November 10, 2023

This image is no longer relevant

Technical outlook:

EUR/USD has dropped back to 1.0660 overnight and could extend losses to the 1.0610 mark before resuming its rally. Notably, if the corrective wave is unfolding as a flat move, bulls may regain control of the market at current levels. The pair is currently trading near 1.0670. To confirm further upside, it needs to overcome the level of 1.0725.

EUR/USD is still experiencing a bullish correction from the 1.0450 mark. Immediate price support is seen at around 1.0500-10, while intermediate resistance lies at 1.0755. A breakout above 1.0755 will open the way to the levels of 1.0850 and 1.0900. A breakout below 1.0500 will lead to a trend change.

EUR/USD is currently moving between 1.0500-10 and 1.0755-60. The levels have shifted to the 0.382 Fibonacci retracement and could extend to the 0.618 retracement, breaking through the 1.0600-10 range on the chart. The pair could resume its rally in the area of 1.0800-50.

Trading idea:

The most likely scenario suggests a potential rally to the 1.0850 mark.

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD: Trading Plan for the U.S. Session on April 29th (Review of Morning Trades)

In my morning forecast, I highlighted the 1.3421 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and see what happened. The pound

Miroslaw Bawulski 18:55 2025-04-29 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 29th (Review of Morning Trades)

In my morning forecast, I drew attention to the 1.1378 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and analyze what happened

Miroslaw Bawulski 18:52 2025-04-29 UTC+2

How to Trade the GBP/USD Pair on April 29? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of GBP/USD On Monday, the GBP/USD pair rose by 130 pips. Such was the "boring Monday" without a macroeconomic report or important speech

Paolo Greco 06:43 2025-04-29 UTC+2

How to Trade the EUR/USD Pair on April 29? Simple Tips and Trade Analysis for Beginners

Analysis of Monday's Trades 1H Chart of EUR/USD On Monday, the EUR/USD currency pair showed somewhat mixed movements, no matter how you look. On the one hand, the pair demonstrated

Paolo Greco 06:43 2025-04-29 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 29: The Pound Sterling Is Back to Its Old Ways

On Monday, the GBP/USD currency pair once again traded higher despite having no fundamental reasons. However, by now, all traders should be accustomed to such developments. While the euro tends

Paolo Greco 04:32 2025-04-29 UTC+2

Trading Recommendations and Analysis for EUR/USD on April 29: Euro Growth Did Not Affect the Flat Trend

On Monday, the EUR/USD currency pair showed a decent upward movement during the day but remained within the narrow sideways channel of 1.1312–1.1414 (Kijun-sen line). Recall that the euro

Paolo Greco 04:32 2025-04-29 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 28th (Analysis of Morning Trades)

In my morning forecast, I focused on the 1.3342 level and planned to make trading decisions based on it. Let's take a look at the 5-minute chart and see what

Miroslaw Bawulski 19:19 2025-04-28 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 28th (Review of Morning Trades)

In my morning forecast, I focused on the 1.1391 level and planned to make trading decisions from there. Let's look at the 5-minute chart and see what happened. Although there

Miroslaw Bawulski 19:07 2025-04-28 UTC+2

How to Trade the GBP/USD Pair on April 28? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of GBP/USD The GBP/USD pair also showed no interesting movements on Friday. Like the euro, the British pound remained very close to a flat

Paolo Greco 05:51 2025-04-28 UTC+2

How to Trade the EUR/USD Pair on April 28? Simple Tips and Trade Analysis for Beginners

Analysis of Friday's Trades 1H Chart of EUR/USD The EUR/USD currency pair continued to trade sideways on Friday. The market continues to ignore all macroeconomic data, and last week once

Paolo Greco 05:51 2025-04-28 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.