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Wait for a sell towards 1.08360.

Wait for a sell towards 1.08360. | 30 April 2020

30 April 2020, EUR/USD

Wait for a sell towards 1.08360.

Wave Analysis

Currently, Eurusd is bouncing off from the upper trendline, as long as the price is not able to clearly break and close above the upper trendline, we expect the current bounce from this trendline to be the end of the impulsive wave (E), that the current bearish price rally is the continuation of a corrective wave count and could push the price towards the lower trendline. A clear breakout and a close above the upper trendline will mean we are continuing to the upper side with an ultimate target around 1.09075.

Trade Recommendations:

Wait for a sell towards 1.08360.

Bob Stan
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