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Sell euro from 1.12110

Sell euro from 1.12110 | 29 April 2019

29 April 2019, EUR/USD

Sell euro from 1.12110

Wave Analysis

Perfectly as previously forecasted in the last few week's, euro has been in an active downtrend. Currently, this pair is trading within a declining, yet contracting wedge formation. Last week saw price decline below 1.12110, and is still pretty much below this level. As it is on the daily chart, we're waiting for a possible correction towards 1.12110 to pick a low risk sell order. The anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below the supportive trendline towards 1.05.

Trade Recommendations:

Sell euro from 1.12110 towards 1.10530.

Trade CFD on NYSE, MOEX and NASDAQ corporate stocks without swap.

Bob Stan
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