EURUSD remains in an impulsive phase, as the market continues to form the impulsive major Wave V, which will signify the conclusion of the impulsive phase. Furthermore, the chart illustrates the formation of a falling wedge pattern, indicative of a bull flag formation, suggesting that bullish sentiment prevails.
We will patiently await a breakout above the upper trendline of this falling wedge before initiating a buy order, setting our take profit target at 1.1283, aligning with the major impulsive Wave V. It is important to implement appropriate risk management practices throughout the trade.
Origin: FreshForex
