We're short | 16 June 2023

16 June 2023, EUR/USD

We're short

EURUSD is presently undergoing a bearish corrective phase following the ABC corrective pattern. Additionally, we observe an ascending channel formation on the chart, originating from the major impulsive wave "I" at 1.0776. Ascending channels typically indicate a potential bearish reversal in the market. Considering these factors, it may be appropriate to consider sell orders at the current market price. It is recommended to set a take-profit target at minor wave "a," with the anticipated target level at 1.0852.

Trade Recommendations:

We're short

Bob Stan
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