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EURUSD. Wait and sell a break below 1.12439 with your take profit at 1.12129.

EURUSD. Wait and sell a break below 1.12439 with your take profit at 1.12129. | 16 July 2019

16 July 2019, EUR/USD

EURUSD. Wait and sell a break below 1.12439 with your take profit at 1.12129.

Wave Analysis

During the previous trading day, instead of continuing to the upperside, Euro pulled back to the lowerside and even close below its daily opening price. The previous day's candle is a possible reversal candle and as long as the price remains below its daily opening price, we expect a possible momentum to the lowerside with our target being 1.12465. Conservative traders can wait for a clear breakout below 1.12465 to confirm that we're downwards with an ultimate target at 1.12129.

Trade Recommendations:

Wait and sell a break below 1.12439 with your take profit at 1.12129.

Bob Stan
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