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We're buyers for now

We're buyers for now | 18 May 2023

18 May 2023, EUR/USD

We're buyers for now

EURUSD is currently in a corrective phase (ABC corrective pattern). This pair is currently very bullish. If we can check on the lower timeframe, a 15-minute timeframe to be specific we can see that the price has already formed an inverse head and shoulder pattern which is a bullish reversal pattern. The formation of this pattern confirms that this pair is currently very bullish. We can place buy orders now with our take profit at minor wave a (1.0890) and stop loss at 1.0834. Ensure you use proper risk management.

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We're buyers for now

Bob Stan
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