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Sell a bounce from the upper trendline towards 1.04826.

07 December 2018, EUR/USD

Sell a bounce from the upper trendline towards 1.04826.

Wave Analysis

Still nothing much happening on this pair. Euro is still below the resistance trendline. As long as the price is below this trendline and also below the level 1.3526, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the last impulsive wave (v) to the lowerside and should first break below 1.11800. If you're not in any position at the moment, you could wait for a bounce from the immediate trendline to pick a long term short position towards 1.04826.

Trade Recommendations:

Sell a bounce from the upper trendline towards 1.04826.

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Graham Osano
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