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Wait for a sell around 1.19904

Wait for a sell around 1.19904 | 03 May 2018

03 May 2018, EUR/USD

Wave Analysis

During the previous trading day, the daily candle opened at 1.19904, went as high as 1.20305 and as low as 1.19368 but ended up closing at 1.19496, several pips below it's opening price. The previous day's candle was a prefect bearish continuation candle and indicates a possible increase in the number of sellers. This pair is very bearish but instead of going short now, we're waiting for a clear sell position around yesterday's opening price, 1.19904 or yesterday's highest high 1.20305. Our target is fixed around 1.19140.

Trade Recommendations:

Wait for a sell around 1.19904 towards 1.19140

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Bob Stan
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