We're buyers | 10 April 2023

10 April 2023, EUR/USD

We're buyers

EURUSD has been bullish since last week, and I expect this trend to continue until the end of this week. The market is currently in a corrective phase, following an ABC corrective pattern. As shown on the chart, 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. Additionally, a small ascending channel has formed, indicating a bearish reversal pattern. I anticipate the price to drop slightly, reaching as low as 1.0851, before continuing to rise towards 1.1602.

Trade Recommendations:

We're buyers

Bob Stan
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