EURUSD Analysis for October 13, 2024

In the daily chart, the Fibonacci levels I drew from two different lows have created a confluence. This area is also strengthened by a previous higher high (HH) and has become a demand zone.

The long wick extending downward indicates buyers' reaction to this price level. I expect an upward movement from here. However, before opening a trade, you might want to wait for bullish momentum to form on lower time frames.