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We're short for now

We're short for now | 22 March 2023

22 March 2023, EUR/USD

EURUSD is currently at a resistance zone, The market 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. Again the market has also formed an expanding wedge from minor corrective wave a,(1.0534) to where the market is at now 1.0790, as we can see on the chart above we have a three multi-touch confirmation on the upper trendline of this expanding wedge also the market is at a resistance zone. This shows that buyers are now exhausted and sellers are likely to be in control for the next few days. This is the right time to sell. You can place sell orders now with your take profit at 1.0103.

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We're short for now

Bob Stan
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