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EURUSD: medium-term sells of the pair.

EURUSD: medium-term sells of the pair. | 22 August 2023

22 August 2023, EUR/USD

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.09600-1.09950. At the moment, the pair is trading lower, indicating the strength of sellers.

• Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.09750-1.09900, 1.09000-1.09150 and 1.08650-1.08800. Currently, the pair is trading within the specified range, indicating a temporary uncertainty. • The area of profitable prices for sell in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the minimum 18.08.2023.

• Quotation of the lower boundary of the zone 1/4-1.08933.

• Quotation of the lower boundary of the zone 1/2-1.09413.

• Intraday objectives: update the lows from 18.08.2023-1.08453.

• Medium-term objectives: test the higher bound of GWCZ - 1.08163.

• Trading recommendations: sells from the range of favorable prices in the formation of a reversal pattern.

• Sell: 1.08933-1.09413, Take Profit 1-1.08453, Take Profit 2-1.08163.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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