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We're buyers for now

We're buyers for now | 26 July 2023

26 July 2023, EUR/USD

We're buyers for now

EURUSD is currently very bullish. The market is still in an impulsive phase, and as we can see from the chart above, it is currently at major wave "IV" at 1.1020. We expect the market to form a bullish reversal pattern at this zone, probably a double bottom, and then rise up to (1.1391), completing the major impulsive wave "V". We will wait for the market to form the double bottom pattern before placing the buy trade. Lastly, should the price break below (1.1020), this setup will be invalidated.

Trade Recommendations: We're buyers for now

Bob Stan
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