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Expect further momentum to the lowerside.

Expect further momentum to the lowerside. | 27 August 2019

27 August 2019, EUR/USD

Expect further momentum to the lowerside.

Wave Analysis

After a tremendous rise seen during the previous week, euro is currently rallying to the lowerside. The current downward rally is the continuation of both the impulsive wave 5 and (c) and should break below the previous week's lowest low 1.10020 towards 1.05900 or even lower. And should price turn an rally to the upper side, then we're waiting for a bounce from the upper trend line to pick a low risk sell order towards the next level which is the red supportive trendline. A break above the upper trend line will push the price higher.

Trade Recommendations:

Expect further momentum to the lower side.

Bob Stan
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