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EURUSD: medium-term sells of the pair.

EURUSD: medium-term sells of the pair. | 29 August 2023

29 August 2023, EUR/USD

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.09600-1.09950. At the moment, the pair is trading lower, indicating the strength of sellers.

• Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.09800-1.09950, 1.08800-1.08950, 1.08450-1.08600 and 1.08000-1.08150. Currently, the pair is trading within the specified range, indicating a temporary uncertainty. • The area of profitable prices for sell in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the minimum 25.08.2023.

• Quotation of the lower boundary of the zone 1/4-1.08144.

• Quotation of the lower boundary of the zone 1/2-1.08624.

• Intraday objectives: update the lows from 25.08.2023-1.07664.

• Medium-term objectives: test the higher bound of SWCZ - 1.07244.

• Trading recommendations: sells from the range of favorable prices in the formation of a reversal pattern.

• Sell: 1.08144-1.08624, Take Profit 1-1.07664, Take Profit 2-1.07244.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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