EURUSD is presently exhibiting a downtrend, characterized by the formation of higher lows and lower lows. The market is currently moving within a falling wedge pattern, which is typically regarded as a bullish pattern. Based on this analysis, it can be inferred that the pair is currently in a corrective phase following the ABC corrective pattern.
The expectation is for the market to drop towards our target at minor wave “a” around 1.0862. Subsequently, there is a projection for the formation of a bullish reversal pattern, potentially a double bottom, leading to an upward move towards our target for minor corrective wave “b” at 1.0957.
Origin: FreshForex
