Trading recommendations for 05/11/2023

Hello. The market has completely froze and the last few days we have been marking time. Below we will see what is interesting for trading on the Forex market on 05/11/2023


For EURUSD went down to the previous low, and having formed the Inside bar pattern, remained in the sideways. The price does not want to come out of it and all that remains is to wait. You can try to look at the signals to buy intraday, with a small stop, with the expectation of growth in the area of ​​0.10600.


The USDJPY reacted to the FVG formed by the last downward impulse and formed an Absorption pattern. On the one hand, the highs were not removed from above, but below there is a beautiful trend line, from which there are probably a lot of purchases and under which there is a lot of liquidity. Although a slight predominance of buyers in the statistics of transactions confirms the general mood. It looks like we should expect a drop somewhere in the area of ​​133.00 or a little lower. After that, it will be possible to look at the reaction and think about deals in purchases.

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