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We're buyers | 04 July 2023

04 July 2023, EUR/USD

EURUSD is currently in an iWe're buyersmpulsive phase, indicating a strong upward trend. The market is forming the impulsive major wave "V," which, upon completion, will mark the end of the impulsive phase and potentially the beginning of a corrective phase. Additionally, a descending channel pattern has formed, which is considered a bullish reversal pattern. Anticipating a reversal, I expect the market to form a double bottom around 1.0835 and then reverse upwards with strong momentum towards the target of 1.1244, representing the completion of the major wave "V".

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We're buyers

Bob Stan
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