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We're Short

We're Short | 01 Marzo 2023

01 Marzo 2023, EUR/USD

We're Short

EURUSD is in a downtrend, The market formed an expanding wedge from minor corrective wave a,1.0669 to 1.0579. The market was rejected at a major zone/support zone at 1.0534, then the market reversed to the upside from this zone,(1.0534) because of this the whole of yesterday the market was bullish. Currently, the market is dropping again, after being rejected at 1.0632. I expect the market to drop at least up to 1.0534, break below the support zone drop further up to 1.0212. Should the market form a double bottom at this zone 1.0534, the setup will be invalidated.

Trade Recommendations:

We're Short

Bob Stan
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