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We're short with an ultimate target at 1.11135.

We're short with an ultimate target at 1.11135. | 23 May 2019

23 May 2019, EUR/USD

Wave Analysis

Perfectly in line with what we forecasted during the previous trading day, the impulsive wave (5) rallied to the lowerside and is still pretty much bearish both on the monthly and the weekly charts. As long as the price remains below the two simple moving averages and also below the upper trendline, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (5) and should break below 1.11220 towards 1.11125.

Trade Recommendations:

We're short with an ultimate target at 1.11135.

Bob Stan
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