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We're long for now

We're long for now | 07 June 2023

07 June 2023, EUR/USD

We're long for now

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.

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We're long for now

Bob Stan
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