We're long | 19 May 2023
19 May 2023, EUR/USD
EURUSD has completed the formation of the impulsive wave pattern. The market is currently at the level of the major impulsive wave (V) at 1.0761. Over the past few days, the general trend of this pair has been bearish, as evidenced by the chart displaying lower lows and lower highs. Additionally, a descending channel has formed from the beginning of the major impulsive wave (I) at 1.1091 to the end of the impulsive wave (V) pattern at 1.0761. This descending channel suggests a potential bullish reversal pattern. Therefore, I anticipate a bullish trend from this point onward, target at 1.0851.
Trade Recommendations:
We're long
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.
