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Wait | 02 June 2023

02 June 2023, EUR/USD

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EURUSD is still undergoing a corrective phase, following the ABC corrective pattern. The market is currently at the minor wave "a" level of 1.0767, which also coincides with a significant zone of resistance. I anticipate that the market will form a double-top pattern at this zone, followed by a corrective decline, possibly in the form of a falling wedge, targeting our minor corrective wave "b" at (1.0696). We will wait for the market to form the double top pattern before considering sell trades.

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Bob Stan
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