We're buyers for now | 12 Junio 2023
12 Junio 2023, EUR/USD
EURUSD is currently in a corrective phase, following the ABC corrective pattern. The market has reached a resistance zone at 1.0784, forming a double-top pattern. After hitting the resistance, the price is now dropping within a falling wedge pattern. Falling wedges are typically considered bullish reversal patterns. Based on this analysis, the expectation is for the market to drop toward the level of 1.0739, forming a double-bottom pattern. Following the double bottom, the price is anticipated to rise towards the target of the minor wave 'c' at 1.0896.
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.
