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Wait | 12 January 2023

12 January 2023, EUR/USD

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Wave Analysis

EURUSD is still forming the impulsive V waves pattern. The market is at 1.07696, and the market has been moving correctively from 1.07116, this is a clear sign that they might be slightly impulsive and move to the downside probably from 1.0774 to the begging of the correction which is at 1.07116. After this correction you can place a sell order that is at 1.07116, placing your stop loss at 1.06909, at the take profit at 1.10784 which I expect to be the end of the major impulsive wave V.This setup will be invalidated if the price moves below 1.04804.

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Bob Stan
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