We're short | 07 February 2023
07 February 2023, EUR/USD
EURUSD is on an uptrend.From major wave III,( 1.0863) to major wave V (1.1025) the market moved in form of an ascending channel that is expanding in nature. The price has broken below the lower trendline of this channel impulsively, this shows that the market is on a strong downtrend. Again the market has broken below a major zone at 1.0728 impulsively. The price is currently at minor corrective wave a(1.0708). What we expect now is the market to buy up to around 1.0877. If you have any open sell orders I would advise you to hold and place your take profit at (1.0485).
Trade Recommendations:
We're short
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.
