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We're short for a short time.

We're short for a short time. | 22 Agustus 2023

22 Agustus 2023, EUR/USD

The EURUSD pair remains bearish as the market continues to form lower highs and lower lows, indicating a downtrend. The market is currently in an impulsive phase, forming the major outer wave 'V'. We anticipate the price to decline to at least 1.0876, with the ultimate target set at 1.0830. If you have an active sell order, consider moving the stop loss to breakeven to secure some profits or close the positions. It's important to note that placing a new sell order at this point carries significant risk, as the market is approaching our target and there is no current confirmation for a short position. Furthermore, should the market breach the resistance zone at 1.0918, a different scenario might unfold.

Trade Recommendations:

We're short for a short time.

Bob Stan
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