EURUSD – Rising in a corrective wave

06.03.2023

The euro is trying to rise. This was expected and the assumed scenario does not contradict it. Observed cautious growth is probably due to the development of wave c of x, in the double zigzag which is forming. Then we have a potentially quite interesting ascending movement which is worth trying to participate in.

Buy trades can be opened at current values. A possible target is around 1.0750-1.0780, which is about 130 points. Also do not forget that all this development goes in a corrective wave, and corrective structures can “throw” inadequate things, so it is necessary to protect your open positions with a stop loss.

Recommendations: Buy 1.0645, SL 1.0620, TP 1.0750.