We're long | 25 July 2023
25 July 2023, EUR/USD
EURUSD dropped exactly as we had predicted in our previous analysis on 7/24/2023. The market is still in an impulsive phase (V wave pattern), and as we can see from the chart above, it is currently at major wave "IV" at "1.1069". We expect the market to form a bullish reversal pattern in this zone, probably a double bottom, and then rise to 1.1391, completing the major impulsive wave "V". To be on the safer side, We will wait for the market to form the double bottom pattern before placing the buy trade.
Trade Recommendations:
We're long
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.
