EURUSD – Expectations for the development of the second part of the double zigzag remain

23.01.2023

The euro continues to provide fierce resistance to the dollar, and it must be admitted that everything is going very well for it so far. The rate is holding at the highs, and now we are seeing an attempt to update it. It seems that even if the buyers succeed, the sellers will not allow the sellers to gain a foothold on the new values for a long time.

A reverse movement is expected, due to the development of the second part of the alleged double zigzag. At the same time, it is also not worth rushing to conclude deals for sale. It is recommended to open positions on the breakdown of the local minimum passing by the value of 1.0755.

Recommendations: Sell 1.0755, SL 1.0780, TP 1.0550.