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Sell a rebound from the upper trendline with your target at 1.09050.

Sell a rebound from the upper trendline with your target at 1.09050. | 18 September 2019

18 September 2019, EUR/USD

Wave Analysis

During the previous trading day, Euro rose tremendously to the upperside but failed to breakout above the upper resistive trendline. We expect the latest bounce from this trendline to have marked an end to the corrective three wave cycle that any clear moves to the lowerside will be the unfolding of an impulsive wave count to the lowerside and should breakout below 1.09050 towards 1.07770 or even lower. This view can only be invalidated in case the price breaks above the upper trendline, if this is the case, then further momentum to the upperside is expected.

Trade Recommendations:

Sell a rebound from the upper trendline with your target at 1.09050.

Bob Stan
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