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We're short for now

We're short for now | 18 July 2023

18 July 2023, EUR/USD

We're short for now

EURUSD remains in an impulsive phase, and the market is currently situated at major impulsive wave "III" at 1.1245. Upon analyzing the 1-hour timeframe, it becomes apparent that the market has indeed formed a double-top pattern at this zone. This formation serves as a bearish reversal pattern, signaling a potential decline in price. Consequently, this serves as confirmation to initiate a sell trade. Traders may consider placing a sell order now, with a take profit set at 1.1098. Use proper risk management.

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We're short for now

Bob Stan
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