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We're short

We're short | 16 February 2023

16 February 2023, EUR/USD

We're short

EURUSD is currently bearing. The market is moving to the downside in form of a corrective 3wave pattern and as we can see on the chart above, the market has formed an expanding wedge from minor corrective wave (a),1.0667, to minor corrective wave (b),1.0788. The market is currently in a major zone(Resistance zone), the market can either break below this level and then drop up to 1.0463, Or it can form a double bottom and then buy up to 1.0710. We wait for the market to break below the lower trendline of this channel trades, then we enter sell trades.

Trade Recommendations:

We're short

Bob Stan
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