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EURUSD. Look for a resell from 1.11554 towards 1.10231.

EURUSD. Look for a resell from 1.11554 towards 1.10231. | 24 July 2019

24 July 2019, EUR/USD

EURUSD. Look for a resell from 1.11554 towards 1.10231.

Wave Analysis

Euro is currently trading within a converging wedge formation. Overall, this pair is in a downtrend. We expect further lower lows formation and may breakout below 1.11395 towards 1.10231 or even lower buy should not go below 1.10. On the hourly chart attached, we recommend looking for long term sell orders from 1.11554, and in case price breaks above this level, we expect further momentum even further to the upperside, towards 1.12105, ideally the best place to look for a sell from is 1.12079.

Trade Recommendations:

Look for a resell from 1.11554 towards 1.10231.

Bob Stan
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