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Wait for a resell around 1.1420.

Wait for a resell around 1.1420. | 10 December 2018

10 December 2018, EUR/USD

Wait for a resell around 1.1420.
Wave Analysis
Despite the break below 1.1520, euro is yet to make any clear movements to the lower side. The pair continues to consolidate below this level and is not showing any signs of continuing to the lower side. As long as the price remains below this level, we expect nothing but a possible momentum to the lower side. Now that the price is below 1.1387, we’re still looking for potential long term short positions, and should the price break below the immediate trend line, then this will be an ideal place to pick a long term short position. The anticipated bearish price rally is the continuation of the impulsive wave (C) and should first go below 1.1120.
Trade Recommendations:
Wait for a resell around 1.1420.

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Bob Stan
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