Wait | 23 May 2023

EURUSD has been consolidating since the beginning of this week, indicating a corrective phase in the market. The price has not yet completed the formation of the corrective minor wave "b". Our target for the minor corrective wave b remains at 1.0785. We anticipate the price to decline towards this zone (1.0785), where we expect a bullish reversal pattern to form, possibly a double bottom. Following the pattern confirmation, our plan is to enter buy trades with a target set at 1.0927, which corresponds to our minor corrective wave c target. We will exercise patience and wait for the market to provide us with a buy confirmation signal before initiating any buy trades.

Trade Recommendations:

Wait