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Wait | 27 April 2023

27 April 2023, EUR/USD

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Yesterday (26/4/2023), EURUSD experienced a bullish trend for the better part of the day. However, the market is still in a corrective phase. The market dropped down to a major zone/Support zone at 1.0969, was rejected, and then reversed to the minor corrective wave "B" zone at 1.1057. At this point, the price has formed a double top, which is a bearish reversal pattern, confirming that this pair is going to drop. We can now place sell orders with a target of 1.0969-1.0829. Lastly, it should be noted that if the price breaks above 1.1057, this setup will be invalidated.

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Bob Stan
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