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We're short for now

We're short for now | 15 August 2023

15 August 2023, EUR/USD

We're short for now

EURUSD remains strongly bearish. As evident from the chart above, the market is currently in the process of forming the impulsive major outer wave 'V'. Our expectation is for the price to decline, reaching at least 1.0953, with the ultimate objective set at 1.0869. If you currently hold a profitable sell position, a prudent strategy would involve adjusting the stop loss to break even. Notably, the market has broken below a significant support zone at '1.0942'. In light of this, you may consider initiating more short positions with a target range of 1.0896-1.0863.

Trade Recommendations:

We're short for now

Bob Stan
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