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We're short towads 1.16

18 May 2018, EUR/USD

We're short towads 1.16

Wave Analysis

During the previous trading day, both the impulsive waves v and (c) extended significantly to the lower side and are still pretty much bearish both on the daily and the weekly charts. Today, we expect a possible extension of both the impulsive waves to the lower side and may break below 1.1695 towards 1.15 or even lower. If you're not already in a short position, then you could wait for a minor pullback towards the previous day's highest high, or the previous day's opening price to pick a short position towards 1.16.

Trade Recommendations:

We're short towads 1.16

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Graham Osano
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