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We're short for the current pullback

We're short for the current pullback | 27 January 2023

27 January 2023, EUR/USD

We're short for the current pullback

Wave Analysis

EURUSD has been on a strong uptrend from 0.95429 up to now. The market has already completed forming the major 5 waves pattern what we expect now is for the market to form a corrective 4 waves pattern that is from 1.08630 to around 1.07278. Again the market moved in for of an ascending channel from,1.07278, to 1.09189, where it also formed a double top, The double top and the ascending channel have increased the probability of this pair selling. You can place a sell order now or wait for a possible breakout of the lower trendline of the ascending channel.

Trade Recommendations:

We're short for the current pullback

Bob Stan
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