Sellers are in control for now | 18 Abril 2023
18 Abril 2023, EUR/USD
EURUSD is currently very bearish. The market is in a corrective phase (ABC corrective pattern). Again, as we can see from the chart above the price has also formed an ascending channel from the major impulsive wave (I),1.0934 to the end of the major impulsive wave (V)1.1076. This is a Bearish reversal. I expect the price to form a bearish continuation pattern, probably an expanding wedge, and then drop up to 1.0808. You can place sell orders now with your profit target at 1.0808 and stop loss at 1.0934.
Trade Recommendations:
We're sellers
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
