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We're in a correction mode

We're in a correction mode | 09 October 2023

09 October 2023, EUR/USD

We're in a correction mode

EURUSD is currently in a bullish corrective phase/impulsive phase. We can see from the chart above that the price has been moving impulsively to the upside. The market is currently forming the corrective ABC pattern. From the chart above, we can see that the price is currently forming the minor corrective wave 'a,' with our target set at the resistance zone of 1.0742. We expect the price to rise, at least up to 1.0742. You can consider placing a long position now, with your profit target ranging from 1.0700 to 1.0742.

Trade Recommendations:
We're in a correction mode

Bob Stan
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