EURUSD – Up
EURUSD is currently experiencing a corrective phase with an ABC corrective pattern. The chart shows that the price has formed an ascending channel from the major impulsive wave (I) at 1.0934 to the end of the major impulsive wave (V) at 1.1076, indicating a bearish reversal. Additionally, the pair has formed a double top at 1.0983, which confirms its bearishness. Furthermore, a double-top pattern, a bearish reversal pattern, has also been formed at 1.0983. These indicators suggest that the price is likely to drop to 1.0808. It is recommended to consider placing sell orders now with a profit target at 1.0808 and a stop loss at 1.0934.
Trade Recommendations:
We’re sellers
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
