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Sell a break below the supportive trendline towards 1.10555.

Sell a break below the supportive trendline towards 1.10555. | 28 August 2019

28 August 2019, EUR/USD

Wave Analysis

After an unprecedented rise during the previous week on Friday, Euro is currently pulling back to the lowerside. We expect the current rally to the lowerside to be the unfolding of a correction to the lowerside but should not go beyond the level 1.10555. As it is on the hourly chart, a bounce from the immediate supportive trendline will push the price to the upperside towards the upper trendline. A break below the supportive trendline will mean we're continuing short with the impulsive wave (c) towards 1.10555.

Trade Recommendations:

Sell a break below the supportive trendline towards 1.10555.

Bob Stan
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