We're buyers for now | 05 Junio 2023
05 Junio 2023, EUR/USD
EURUSD is moving in line with our previous analysis from June 2, 2023. The market experienced a bearish trend towards the end of last week and is currently in a corrective phase, following the ABC corrective pattern. The price is currently at the level of the minor corrective wave (B) at 1.0703. I anticipate that the market will form a bullish reversal pattern, potentially a double bottom, at this level. Subsequently, the price is expected to rise towards our target for the minor wave (c) at 1.0896. However, if the price breaks below 1.0896, this setup will be invalidated.
Trade Recommendations:
We're buyers for now
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.
