EURUSD is currently in an impulsive phase, and the market is forming a corrective major wave (IV). From the chart, an expanding wedge pattern can be observed, which is a bullish continuation pattern. This pattern suggests that the market may continue its upward movement following a prior impulsive bullish move.
The expectation is for the market to rise toward the level of 1.0787, potentially forming a double-top pattern. After that, a slight drop to around 1.0743 from a double bottom pattern is anticipated. Following this, the market is expected to resume its upward movement toward the major impulsive wave (V) at 1.0829.
Origin: FreshForex
