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In a corrective mode

In a corrective mode | 27 May 2019

27 May 2019, EUR/USD

Wave Analysis

Instead of rallying to the lowerside as previously forcasted, euro corrected itself to the upperside but is still below both the level 1.14189 and the upper trendline. As long as the price remains below these levels, we expect the impulsive wave (c ) to continue to the lowerside with an ultimate target at 1.110. As it is on the daily chart above, we’re waiting for a correction towards 1.13761 to pick a low risk sell order with our stop losses above 1.14810. Conservative traders can have pending orders within 1.13761-1.14189.
Trade Recommendations:
Wait for sell from within 1.13761-1.14189,.
Bob Stan
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