Hello. Below are some recommendations for trading in the Forex market on 05/17/2023
/p> Doji. Looks like it's time to look at sales. There is where to go even higher in the correction, from above the level of 1.0943. But I think you can already from here, inside the day, look for signals to sell with the expectation that the price will continue to fall. Same sell targets, 50% level 1.0800 and FVG around 1.0700.
On the GBPUSD pair, we entered FVG a little and bounced back to form an Inside bar pattern. I also do not rule out that we can make some kind of impulse a little higher. But we can continue to fall from the current ones, and we can look for intraday sell signals. Sell targets at 1.2339 and just below the 50% level at 1.2176.
On the USD pair CAD formed a Pin Bar pattern . That's why I wrote not so long ago that I removed it from trading 🙂 The price is in some kind of wide outset, it is squeezed between levels and it is not clear what to expect. Yesterday's sales attempts should probably be closed. In general, I remain bearish so far and that we are going to the 1.3294 area. But I'll probably stay here without deals for now. I will follow the development of the situation.