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We're buyers for now | 29 June 2023

29 June 2023, EUR/USD

EURUSD is still in an impulsive phase, and the market has formed a bullish reversal pattern known as a falling wedge. The expectation is for the price to form a double bottom at 1.0897, which would confirm the bullish reversal pattern, and then rise up to 1.1047, marked as the major impulsive wave "V". To enter a buy trade based on this analysis, it is suggested to wait for the market to form the double bottom pattern and then place the buy order. This approach allows for confirmation of the pattern before entering the trade.

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We're buyers for now

Bob Stan
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