We're short for now | 18 July 2023
18 July 2023, EUR/USD
EURUSD remains in an impulsive phase, and the market is currently situated at major impulsive wave "III" at 1.1245. Upon analyzing the 1-hour timeframe, it becomes apparent that the market has indeed formed a double-top pattern at this zone. This formation serves as a bearish reversal pattern, signaling a potential decline in price. Consequently, this serves as confirmation to initiate a sell trade. Traders may consider placing a sell order now, with a take profit set at 1.1098. Use proper risk management.
Trade Recommendations:
We're short for now
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.
