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We're long for now

We're long for now | 23 June 2023

23 June 2023, EUR/USD

We're long for now

EURUSD is currently in an impulsive phase, indicating a strong bullish sentiment in the market. The formation of a falling wedge pattern further supports this bullish outlook. The price is currently at a significant support zone of 1.0946. Based on this analysis, it is expected that the market will form a double-bottom pattern at the support zone, serving as a bullish reversal signal. Following the completion of this pattern, an impulsive upward move can be anticipated, with a target set at 1.1060, which is identified as the major impulsive wave "V".

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We're long for now

Bob Stan
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