EURUSD – Expectations of a downward correction persist

24.04.2023

The market remains stable for the time being. The price, as expected, continues to trade in a certain price range forming a correction. Exit from it is expected to go downwards. It is conditioned by the development of the downward impulse, which is part of wave Y. Thus a double triplet will be formed.

Targets for the decrease lie near the minimum established by the anticipated wave w. In this situation, it is advisable to open a sell transaction upon breakdown of the lower boundary of the range, within which the price is now located.

Recommendations: Sell 1.0900, SL 1.0925, TP 1.0500.