EURUSD – Up
EURUSD is currently in a corrective phase, following the ABC corrective pattern. The market has reached a resistance zone at 1.0784, forming a double-top pattern. After hitting the resistance, the price is now dropping within a falling wedge pattern. Falling wedges are typically considered bullish reversal patterns. Based on this analysis, the expectation is for the market to drop toward the level of 1.0739, forming a double-bottom pattern. Following the double bottom, the price is anticipated to rise towards the target of the minor wave ‚c‘ at 1.0896.
Trade Recommendations:
We’re buyers for now
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
