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Sell a bounce from the upper trendline with your take profit at 1.0925.

Sell a bounce from the upper trendline with your take profit at 1.0925. | 16 September 2019

16 September 2019, EUR/USD

Sell a bounce from the upper trendline with your take profit at 1.0925.

Wave Analysis

Despite the previous week's forecast that this pair could decline even further. Euro rose tremendously but failed to break above the upper trendline acting as the resistance to the falling wedge formation. We expect the recent bounce from this trendline to have marked an end to the corrective three wave cycle, that any clear bearish sign will mean we're continuing to the lowerside with the first take profit at 1.0925. A break below this take profit will push the price even further to the lowerside with the next ideal take profit at 1.0750.

Trade Recommendations:

Sell a bounce from the upper trend line with your take profit at 1.0925.

Bob Stan
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