We're waiting for a correction | 14 July 2023
14 July 2023, EUR/USD
EURUSD is presently in the midst of an impulsive phase, with the price situated at major impulsive wave "III" at 1.1224. Our analysis indicates the potential emergence of a bearish reversal pattern in this zone, possibly a double-top formation. In line with this pattern, we anticipate a subsequent downward movement towards the target zone of 1.1027, which is identified as the area for the minor corrective wave "b". We will exercise patience and monitor the market for the confirmation of the double top pattern before considering a sell trade entry.
Trade Recommendations:
We're waiting for a correction
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.
