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We're short | 27 February 2023

27 February 2023, EUR/USD

EURUSD is in a corrective phase. The market formed an expanding wedge from minor corrective wave a,1.0669 to 1.0579. Since the market has broken below the lower trendline of this expanding wedge pattern, I expect the price to drop from where it is currently,(1.0534) up to the minor corrective wave c,(1.0396). Lastly, there is a major zone at 1.10486, should the market fail to break below this level and instead form a double bottom (a bullish pattern). The setup will be invalidated. You can open a sell order now.

Trade Recommendations:

We're short

Bob Stan
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