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We're short | 24 February 2023

24 February 2023, EUR/USD

We're short

EURUSD is in a short-term downtrend. The market is currently in a corrective phase. From minor corrective wave a,(1.0661) to where the market is now, the price has been moving in form of an expanding wedge, currently, the market is at the lower trendline of this expanding wedge since at 10579 there is a major zone/support zone, I expect the price to be rejected at this level, then move up to 1.0700. Should the market break below this major zone/support zone (10579), the setup will be invalidated.

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We're short

Bob Stan
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