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We're short

We're short | 20 February 2023

20 February 2023, EUR/USD

We're short

EURUSD has been on an uptrend since the beginning of this month. This pair is currently in a corrective phase, the market is moving in the form of a corrective 3-wave pattern, the whole of last week the market has been bearish, and we expect this to continue. As we can see on the chart above, the market has formed an expanding wedge from minor corrective wave a,(1.0664) to minor corrective wave b,(1.0801), and within this pattern, there is another pattern which is a descending channel. I expect this pair to buy up to (1.0801), form a double top then drop up to 1.0448.

Trade Recommendations:

We're short

Bob Stan
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