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We're waiting for a buy

We're waiting for a buy | 21 February 2023

21 February 2023, EUR/USD

EURUSD is currently bearish. The market is currently in a corrective phase, the market is moving in form of a corrective 3-wave pattern. This pair formed an expanding wedge from minor corrective wave a,(1.0668) to minor corrective wave b,(1.0801), and as we can see on the chart above the market has already broken below the lower trendline of this channel. Again, the market is forming an inverse head and shoulder pattern, this is a bullish pattern. I expect the price to move lower up to 1.0653, to form the right shoulder. From 1.0653, I expect this pair to buy up to 1.0795 and then drop up to our minor corrective wave c (1.0454).

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We're waiting for a buy

Bob Stan
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