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We're buyers | 26 January 2023

26 January 2023, EUR/USD

Wave Analysis

EURUSD has been on an uptrend for some time. The market has already completed forming the 5 major waves. Normally after the 5 major waves the market forms a corrective 3 wave pattern. The market moved in form of an ascending channel from 1.07278 to 1.09241. This increases the probability of this pair selling. I expect the market to form a double top at 1.09241 and then sell up to around 1.07278. Should the market break above 1.09342 impulsively instead of forming a double top, the setup will be invalidated.

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We're buyers

Bob Stan
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