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We're short for now

We're short for now | 14 August 2023

14 August 2023, EUR/USD

We're short for now

EURUSD is currently very bearish. We can see from the chart above that the market is currently forming the impulsive major outer wave 'V'. We expect the price to drop to at least 1.0953, with the ultimate objective set at 1.0869. If you currently hold a profitable sell position, a prudent strategy would be to adjust the stop loss to break even. Currently, the market is at a major support zone of '1.0942'. Note that if the market breaks below this zone, you should place more short positions with a target range of 1.0896-1.0863.

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We're short for now

Bob Stan
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