We're long for now | 07 Junio 2023
07 Junio 2023, EUR/USD
EURUSD is currently displaying a strong bullish sentiment. The market remains within a corrective phase, following the ABC corrective pattern. As observed from the chart above, the market has formed a falling wedge pattern between the minor wave "a" and the minor corrective wave "b," which is typically considered a bullish reversal pattern. At this point, you have the option to enter a buy order with a profit target set at 1.0899. Alternatively, you can wait for the price to break above 1.0712, which represents the upper trendline of the falling wedge, before considering entering the buy trade.
Trade Recommendations:
We're long 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.
