EURUSD – Up
EURUSD has been bearish for the better part of today. We expected the market to form an inverse head and shoulders pattern but it hasn’t, the market is currently in a corrective phase, and the market is moving in form of a corrective 3-wave pattern. This pair formed an expanding wedge from minor corrective wave a,(1.0668) to minor corrective wave b,(1.0801), Since the price is still within this expanding wedge we will have to wait for a clear signal before entering a trade. I expect this pair to drop from where it is now,1.0634 up to 1.0606 then buy up to 1.0803.
Trade Recommendation:
We’re short
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