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Sellers are in control for now

Sellers are in control for now | 18 April 2023

18 April 2023, EUR/USD

Sellers are in control for now

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

Bob Stan
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