EURUSD has been bullish since the beginning of this week, and we consider this a short-term trend. The market is currently in a corrective phase (ABC corrective pattern). As we can see from the chart above, the price is currently forming the impulsive minor wave C.
The market has formed a descending channel which is a bullish continuation pattern, stretching from minor corrective wave “A” at 1.1029 to minor corrective wave “B” at 1.0524. This confirms that this pair is bullish. You can place buy orders now with your first take profit at 1.0969 and second take profit at 1.1602.
Origin: FreshForex
