We're be short | 08 August 2023

EURUSD is presently exhibiting strong bearish momentum. The market is firmly entrenched within a bearish impulsive phase. As visually evident from the chart above, the market is currently in the process of forming the outer wave 'V'. Our projection is for a descent to occur, with a preliminary target set at 1.0953. Additionally, a secondary target has been identified at 1.0869. It's noteworthy that the zone at 1.0953 signifies a support level; should the market fail to breach this point, the validity of this setup would be compromised. For those considering trading, a sell order could be placed, targeting the range of 1.0953 to 1.0869.

Trade Recommendations:

We're be short