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We're short towards 1.04240.

We're short towards 1.04240. | 15 May 2019

15 May 2019, EUR/USD

We're short from around 1.13445 towards 1.05570.

Wave Analysis:

Perfectly as previously mentioned, this pair has started on its way to the lowerside. As long as the price remains below the cloud shown above, we're looking for long term sell orders towards the recent lowest low. The idea is to wait for retracement back to the previous day's opening price to pick a low risk sell order with your stoploss above the previous day's highest high, and your take profit at 1.04240. Alternatively, you could wait for a break below the this years lowest low to pick a long term sell order.

Trade Recommendations:

We're short towards 1.04240.

Bob Stan
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