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Look for buy orders for now

Look for buy orders for now | 24 May 2023

24 May 2023, EUR/USD

EURUSD has been bearish since the beginning of this week; however, we anticipate a shift toward a bullish trend in the near future. The market is currently in a corrective phase, with the price reaching the zone of the minor corrective wave "B" at 1.0762. At this zone, a double bottom pattern, which is a bullish reversal pattern, has formed. Based on this pattern, we expect the market to experience buying pressure, potentially driving the price towards our minor wave c target at 1.0921. You may consider placing a buy order now, with a take profit set at 1.0921 and a stop loss at 1.0743.

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Look for buy orders for now

Bob Stan
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