Resell euro upon a pullback towards 1.1450 with your take profit at 1.0435. | 19 December 2018

19 December 2018, EUR/USD

Resell euro upon a pullback towards 1.1450 with your take profit at 1.0435.

Wave Analysis

Euro continues to correct itself to the upperside but is still below the level 1.1450. As we mentioned in our previous forecasts, as long as the price is below this level, we expect nothing but a possible momentum to the lowerside, we're basically waiting for a bounce from 1.1450 to pick a long term short position with an ultimate target at 1.1160. The anticipated bearish price rally is the continuation of the impulsive wave v and should break below 1.1160 towards 1.0435. As it is, only sell positions looks more ideal.

Trade Recommendations:

Resell euro upon a pullback towards 1.1450 with your take profit at 1.0435.

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Bob Stan
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