EURUSD is currently in a bullish corrective phase, with the market moving in the form of the ABC corrective pattern. The price is currently moving impulsively to the upside. From the chart above, it is clear that the price is 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 place a long position above 1.0597 with your profit target set at 1.0700-1.0742. This setup will be invalidated should the price break and close below the support zone of 1.0454.
Trade Recommendations:
We’re watching for a bullish rally.
Origin: FreshForex
