EURUSD – The price may rise in the development of the correction

05.06.2023

The situation on the pair in question is still within the expected limits. During the final trading day of the last week the price decreased. It is very similar to a part of corrective structure, which, probably, takes the form of a zigzag.

The mentioned zigzag may be the wave ii in the descending impulse being formed. Then in the near future we might see the growth during which the wave ii will finish, then the price will go down again within the formation of the next impulse wave.

In this regard, we can try to start buying at the current market values. It is worth closing transactions immediately after the local maximum is updated.

Recommendations: Buy 1.0700, SL 1.0675, TP 1.0830.