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Sell euro from the immediate trendline towards 1.04626.

05 December 2018, EUR/USD

Sell euro from the immediate trendline towards 1.04626.

Wave Analysis

During the previous trading day, Euro closed pretty much a few pips below where it opened. The previous day's candle was a perfect bearish pin bar and and as long as the price remains below the descending trendline and also below 1.35262, we expect nothing but a possible momentum to the lowerside. As we mentioned during the previous trading day, the anticipated bearish price rally is the continuation of the impulsive wave (v) and should go below 1.07360 towards 1.04526. If this level is broken, then further momentum lower is expected.

Trade Recommendations:

Sell euro from the immediate trendline towards 1.04626.

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Graham Osano
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