Forex EUR/USD Daily Video, November 03, 2023

[Sive Morten]

Good morning,

It is difficult to say what will happen on NFP, but for now EUR keeps bullish context and 1.06 area seems the nearest one where it could turn up again:

 

[sveckar22]

I am looking for this potential setup on GBPUSD today. Symmetrical triangle formation on Daily chart with LLs.

Initial still valid ABC XOP on intraday charts with completion right at the upper border of the daily symmetrical triangle in confluence with 0.618 FIB from 1.233xx high.

Potential butterfly formation on the hourly chart in the same area.

The entry price is around 1.235xx and an SL of approx 45 pips, TP potentially below the triangle, and minimal target 0.382 retracement from a to XOP on intraday charts.

 

[Sive Morten]

...The entry price is around 1.235xx and an SL of approx 45 pips, TP potentially below the triangle, and minimal target 0.382 retracement from a to XOP on intraday charts.

Great analysis Luka!