Wait | 17 Abril 2023
17 Abril 2023, EUR/USD
EURUSD is currently in a correction phase, and the market is forming the (ABC corrective pattern). For the whole of last week, this pair was very bullish. From the major impulsive wave (I),1,0907 to major the end of major impulsive (V),1.1070, the market form an ascending channel, this is a bearish reversal pattern, meaning the price is likely to drop once it breaks below the lower trendline of this channel and the price hasn't broken below it. Currently, the price is at inner minor wave (A),1.0972, I expect this pair to buy slightly up to 1.1026 (minor wave b), and then drop up to 1.0808.
Trade Recommendations:
Flat
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
