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Look for sell positions | 16 March 2023

16 March 2023, EUR/USD

Look for sell positions

EURUSD formed an ascending wedge pattern which is a bearish pattern from the beginning of the major impulsive wave (I),0.9730 to the end of the major impulsive wave (5),1.1031. The market has broken below the lower trendline of this ascending wedge pattern and is currently dropping. The market is currently bearish, the market is in a corrective phase (ABC corrective pattern). Since the price has been rejected at a major zone/support zone, I expect the market to buy at least up to 1.0686 and then drop up to 1.0042.

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Look for sell positions

Bob Stan
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